tesson holdings (01201) announced that the board of directors proposed to implement a capital restructuring, which consists of the following items: conducting share ...
According to the report from the Wise News APP, tesson holdings (01201) announced that the board of directors proposed to implement a capital restructuring, which includes: conducting share consolidation. Therefore, the existing issued and unissued shares with a par value of 0.1 Hong Kong dollars per 10 shares in the company's share capital will be consolidated into one share with a par value of 1.0 Hong Kong dollars per share in the consolidated share capital.
Following the effective date of the share consolidation, the reduction and split of the share capital will be implemented in the following manner:
Conducting a reduction of the share capital, by canceling any fraction shares in the company's issued share capital generated by the share consolidation; and limiting the cancellation of paid-up share capital to 0.9 Hong Kong dollars per issued consolidated share, reducing the face value of each issued consolidated share from 1.0 Hong Kong dollars to 0.1 Hong Kong dollars. This will result in each issued consolidated share becoming a new share with a face value of 0.1 Hong Kong dollars after the relevant share capital reduction, and any proceeds generated from the share capital reduction will be transferred to the company's statutory paid-in surplus account.
Following the effective date of the share consolidation and share capital reduction, a split will be carried out. Each statutory unissued consolidated share will be split into 10 new statutory but unissued shares with a face value of 0.1 Hong Kong dollars per share.
As of the date of this announcement, 2.197 billion existing shares have been issued and fully paid. Assuming that from the date of this announcement until the effective date of the capital restructuring (including that day), no further shares will be issued or repurchased, the company's statutory share capital will be 0.5 billion Hong Kong dollars, divided into 5 billion new shares with a face value of 0.1 Hong Kong dollars per share, of which 0.22 billion new shares will be issued and fully paid.