On November 15, Geelong (01661.HK) announced that the board of directors proposed to consolidate every ten existing shares of the company's issued and unissued share capital into one share.

As of the date of this announcement, existing shares are traded in board lots of 1,000 shares on the Stock Exchange. Subject to and pending the effectiveness of the share consolidation, it is proposed that the board lot trading unit on the Stock Exchange be changed from 1,000 existing shares to 6,000 consolidated shares. Based on the closing price of 0.121 Hong Kong dollars per existing share on the date of this announcement (equivalent to a theoretical closing price of 1.21 Hong Kong dollars per consolidated share), (i) the value of a board lot of 1,000 existing shares is 121 Hong Kong dollars; (ii) assuming the share consolidation has taken effect, the value of a board lot of 1,000 consolidated shares will be 1,210 Hong Kong dollars; and (iii) assuming the change in the trading unit has also taken effect, the estimated value of a board lot of 6,000 consolidated shares will be 7,260 Hong Kong dollars.