Summary by Futu AI
China Jinmao announced on October 14, 2024, that according to the mid-2024 dividend plan, shares will be distributed in the form of shares instead of cash dividends. The market value of the shares to be substituted will be calculated based on the average closing price of the five trading days from October 7 to October 14, 2024, determining the market value of each share substituted at 1.232 Hong Kong dollars. Eligible shareholders will receive shares in lieu of cash dividends based on their shareholdings and choice of receiving share substitutions, proportionately adjusted to the nearest integer. These share substitutions will have the same rights as existing shares, except for the mid-2024 dividend. The company has applied to the Stock Exchange for approval to list and trade the share substitutions and expects them to commence trading on the Stock Exchange on November 1, 2024. Shareholders expect to receive the cash dividend cheques and/or formal certificates of share substitutions on October 31, 2024.