Gelonghui, April 12, 丨 Yingsheng Science (00209.HK) announced that the board of directors proposed a share consolidation based on merging issued and unissued shares with a face value of HK$0.01 per five (5) shares into one (1) share with a face value of HK$0.05 per share.
The board recommended that share capital reduction and share segmentation be implemented immediately following the share merger, according to which: (i) the company's issued share capital would be reduced by cancelling the paid-up share capital (up to the cancellation of HK$0.04 per consolidated share issued at the time), so that the face value of each issued consolidated share would be reduced from HK$0.05 to HK$0.01; and (ii) following the share capital reduction, each statutory but unissued consolidated share with a face value of HK$0.05 would be split into five (5) shares with a face value of HK$0.01 per share portion.