Peking University Resources (00618) announced that the share combination will involve HK$0.10 per 4 shares in the company's share capital...
According to the Zhitong Finance App, Peking University Resources (00618) issued an announcement. The share combination will involve a combination of issued and unissued existing shares with a face value of HK$0.10 per 4 shares in the company's share capital into a joint stock with a face value of HK$0.40 per share. At the date of this announcement, the authorized share capital of the Company was HK$1.5 billion, divided into 15 billion existing shares with a face value of HK$0.10 per share, while the 10.35 billion existing shares issued with a face value of HK$0.10 per share were paid up or recorded as fully paid. After the share merger comes into effect, the authorized share capital of the company will be HK$1.5 billion, divided into 3.75 billion joint stock shares with a face value of HK$0.40 per share. Assuming that there are no further allotments, issues or repurchases of existing shares from the date of this announcement until the effective date of the combined shares (including that date), there will be 2,587 billion joint stock shares with a face value of HK$0.40 per share. Hefu shares will enjoy equal status with each other in all aspects.
Following the entry into force of the share pooling, the company's issued share capital will be reduced by: excluding any fragmented shares in the company's issued share capital from the share mix to round down the total number of joint stock shares to the nearest whole; and cancellation of HK$0.39 of the paid-up share capital of the company per issued joint stock, so that the face value of each new issued share will be reduced from HK$0.40 to HK$0.01 immediately after the share capital reduction, and the amount of revenue due to the share capital reduction will be transferred to the company law as defined by the company law The company's actual surplus account.
Following the entry into force of the joint stock arrangement and share capital reduction, each authorized but unissued joint stock (including such statutory but unissued joint stock resulting from the share capital reduction) will be spun off into 40 statutory but unissued new shares, each with a face value of HK$0.01.
As of the date of this announcement, existing shares were traded on the Stock Exchange using the current 2,000 shares of each trading unit. Subject to restrictions and subject to the share capital restructuring taking effect, the board of directors proposed changing each trading unit traded on the Stock Exchange from 2,000 existing shares to 8,000 new shares. Based on the closing price of existing shares reported on the Stock Exchange at HK$0.077 per share, if the share capital restructuring and changes in each lot unit take effect, the value of each new lot of 8,000 new shares will be HK$2464.0.