Gelonghui, January 18, 丨 Xinneng Low Carbon (00145.HK) announced that the board of directors recommended implementing a share consolidation based on the basis of merging every ten (10) existing shares in the company's share capital into one (1) consolidated share. Stock consolidation is subject to approval by shareholders (including) at the Extraordinary General Meeting of Shareholders before it can actually take place. After the share merger comes into effect, the existing 8,000 shares per trading unit will remain unchanged.
The company proposes to issue a maximum of 56,514,181 shares of the offering at a subscription price of HK$0.35 per share of the two (2) consolidated shares held on the record date (assuming that no further shares were issued or repurchased on or before the record date) to raise a total proceeds of up to approximately HK$1.78 million (before deducting expenses).