Gelonghui, Feb. 29, 丨 China Environmental Resources (01130.HK) announced that the board of directors proposed a share merger. The basis is the merger of issued and unissued existing shares with a face value of HK$0.02 per five (5) shares into one (1) consolidated share with a face value of HK$0.1 per share. Stock consolidation is subject to approval by shareholders (including) at the Extraordinary General Meeting of Shareholders before it can actually take place.
On the date of announcement, the trading unit for each lot of existing shares traded on the Stock Exchange was 4,000 existing shares. The board of directors recommended that after the share merger comes into effect, the trading unit for each lot traded on the Stock Exchange will be changed from 4,000 existing shares to 20,000 consolidated shares.