Summary by Moomoo AI
China Tin Chemical Group Co., Ltd. (the “Company”) announces that it has completed the distribution of new shares on February 2, 2024, pursuant to a special mandate. The successful sale of a total of 280,000,000 new shares to no less than six independent third party shareholders at a price of HK$0.1 per share, representing approximately 34.07% of the issued share capital upon expansion. After the divestiture, the Company received a net worth of approximately HK$26.6 million for the operation and development of the Company. After the sale was completed, the shareholding of Mr. Tang Yui Duan and Ms. Chen Yu was adjusted to 17.38% and 0.02%, respectively, and the new shareholders became public shareholders of the company. The Executive Directors include Mr. Lo Ziping, Mr. Tang Yifuan, Mr. Shing Ping Ru and Ms. Chen Yu (suspended duties). The independent non-executive directors are Mr. Ma Wing Shin, Mr. Tam Cheng Hao and Mr. Hu Zhijee.