Bonjour Holdings (00653) issued an announcement that the stock consolidation is based on a benchmark of 1 share with a face value of HK$0.20 after consolidating the existing issued and unissued shares at a rate of 20 shares per share with a face value of HK$0.01.

As of the date of this announcement, the company's statutory share capital is HK$0.1 billion, divided into 10 billion shares with a face value of HK$0.01 per share, of which 4.754 billion shares have been issued and fully paid-up or credited as fully paid-up. After the stock consolidation takes effect but before the reduction of share capital, assuming that the number of issued existing shares remains unchanged from the date of this announcement until the effective date of the stock consolidation, the company's statutory share capital will be HK$0.1 billion, divided into 0.5 billion shares with a face value of HK$0.20 per share, of which 0.238 billion shares of consolidated shares (fully paid-up or credited as fully paid-up) will be issued.

Following the effective date of the stock consolidation, the reduction of share capital and the subdivision will be carried out in the following manner:

(i) Reduction of share capital, whereby (a) any fractional consolidated shares in the company's issued share capital resulting from the stock consolidation will be cancelled, and (b) the paid-up capital of each issued consolidated share of HK$0.19 will be cancelled, reducing the face value of each issued consolidated share from HK$0.20 to HK$0.01, resulting in 1 new share with a face value of HK$0.01 for each issued consolidated share after this reduction;

(ii) The proceeds generated from the reduction of share capital will be used to offset the accumulated losses of the company as of the effective date of the reduction of share capital, thereby reducing the accumulated losses of the company. Any surplus proceeds (if any) will be transferred to the company's distributable reserve account and used for purposes permitted by applicable laws, the company's articles of association, and deemed appropriate by the board of directors;

(iii) Immediately following the effective date of the reduction of share capital, each unissued consolidated share with a face value of HK$0.01 as a matter of law will be subdivided into 20 new unissued shares with a face value of HK$0.01 each.

The trading unit for trading existing shares on the Stock Exchange will be changed from 2,000 shares to 0.012 million consolidated shares, but this will be subject to the effective date of the stock consolidation. After the change in the trading unit takes effect, shareholders can submit their existing share certificates for every 2,000 shares of existing shares to the share registration office for exchange of new share certificates for 0.012 million consolidated shares, with the expenses borne by the company.