Junhao Group (00115) issued an announcement. The board of directors proposed a share merger to shareholders. According to this, the issued and unissued existing shares with a face value of HK$0.01 per 20 shares will be consolidated into 1 consolidated share with a face value of HK$0.20 per share. The share merger is expected to take effect on April 26, 2024.
At the date of this announcement, existing shares were traded on the Stock Exchange with 10,000 existing shares per trading unit. After the share merger comes into effect and on this condition, it is recommended that the trading unit for each lot traded on the Stock Exchange be changed from 10,000 existing shares to 2,000 consolidated shares.
On March 6, 2024, the company plans to issue new convertible bonds with a principal amount of not less than HK$100.9 million and no more than HK$101.9 million to the subscriber, Ms. Tsang Chi-nok. The initial conversion price is HK$2.6 per consolidated share.