Summary by Futu AI
Kingkey Fin Int (Holdings) Limited ('the Company') announced that the Board of Directors proposed a share consolidation, which would consolidate the existing shares of HKD 0.01 each into one consolidated share of HKD 0.10 each. The share consolidation requires approval of a special resolution by the shareholders in general meeting, approval of the Stock Exchange Listing Committee for the listing of the consolidated shares and their dealing, as well as compliance with the procedures and regulations under the laws of the Cayman Islands, before it can be implemented. The share consolidation seeks to increase the stock price, promote trading activities, and conform to the trading regulations under the Listing Rules. The Company expects to send out a circular containing the share consolidation proposal on or before August 7, 2024, and implement the share consolidation on August 26, 2024, or before. The Board of Directors believes that the share consolidation is in the best interests of the Company and the shareholders, but the share consolidation may not take place, so shareholders and potential investors should act with caution.