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大唐潼金(08299.HK)建议实施股本重组 重组生效后拟“1供3”供股

Datang Tongjin (08299.HK) proposes to implement the proposed "1 rights issue 3" rights issue after the equity reorganization takes effect.

格隆滙 ·  Nov 2, 2021 11:15

Datang Tongjin (08299.HK) issued an announcement on November 2nd that the company proposes to implement a share capital restructuring, which will involve equity reduction and share subdivision. The capital reduction will involve a reduction in the issued share capital of the company from HK $0.06 per issued existing share to HK $0.001 per issued existing share by cancelling the fully paid-up share capital to HK $0.059 per issued existing share, so that after the reduction, the issued existing shares of HK $0.060 each in the share capital of the company become an adjusted share.

Immediately following the share capital reduction, the shares will be subdivided and the legal but unissued shares of HK $0.06 each of the Company will be subdivided into 60 legal but unissued adjusted shares.

The Board recommends that the trading unit of the shares traded on the Stock Exchange be changed from 24000 existing shares to 96000 adjusted shares after the equity reorganisation and the rights issue take effect.

In addition, the company proposes to implement a rights issue at the subscription price of HK $0.035 per rights issue share at the subscription price of HK $0.035 per rights issue after the equity reorganisation takes effect, on the basis of three rights issue shares for every adjusted share held on the record date, raising up to approximately HK $157 million through a rights issue of up to 4.49 billion rights shares to eligible shareholders.

The net proceeds from the rights issue (after deducting estimated expenses) are expected to be about HK $150 million. The company intends to use the net proceeds from the proposed rights issue as follows: (I) the first HK $30.1 million will be used to redeem the unexercised 2017 convertible bonds issued by the company; (ii) about HK $55.5 million will be used to repay loans from shareholders. (iii) approximately HK $38.5 million is used to repay other debts of the Group, including, but not limited to, bonds and borrowings from third parties; and (iv) approximately HK $25.6 million is used as the general working capital of the Group.

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