Zhongtong Finance APP news, C.banner (01028) announced that the board of directors intends to propose a resolution at the special general meeting of shareholders for approval, cancelling all premium income in the share premium account as of the effective date to zero, and transferring the resulting income to the paid-in surplus account, authorizing the Board of Directors to use the amount to pay part of the special dividend, and using the balance in accordance with the laws and regulations of Bermuda.

It is recommended to cancel the share premium after the following conditions are met:

(a) Shareholders approve the proposal to cancel the share premium by special resolution at the special general meeting of shareholders; and

(b) The directors believe that, on the effective date, there is no reasonable reason to believe that the company will be unable to repay its mature liabilities. After the above conditions are met, the proposed cancellation of the share premium will be completed and come into effect on the effective date.

In addition, at the board meeting held on June 5, 2024, the board of directors proposed to declare and distribute a special dividend of HKD 0.13 per share.