Imperial International Investment (00928): Proposed share consolidation and change the trading unit to 5,000 shares per lot

Zhitong Finance App News, Imperial International Investment (00928) issued an announcement. The board of directors proposed a share merger. The benchmark is to combine the issued and unissued shares with a face value of HK$0.05 per 10 shares into a consolidated share with a face value of HK$0.50 per share. Stock consolidation is subject to approval by shareholders (including) at the Extraordinary General Meeting of Shareholders.

At the date of this announcement, the trading unit for each lot of existing shares traded on the Stock Exchange was 20,000 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 20,000 existing shares to 5,000 consolidated shares.

The Company proposes to raise up to HK$185 million by (i) issuing up to 370,085,012 shares by (i) issuing up to 370,085,012 shares through a share offering to eligible shareholders (assuming that no share options have been exercised on or before the date of the record, and that there is no change in the issued share capital of the Company and all eligible shareholders have subscribed to the allotted shares) on the basis that 2 shares are allotted on the record date without deducting expenses) (based on the assumptions described above); and (ii) ) Raise up to HK$194 million (without deducting expenses) by issuing up to 387,293,012 shares to eligible shareholders (assuming that all share options have been exercised, and there are no other changes in the Company's issued share capital on or before the record date, and all eligible shareholders have subscribed to their allotted shares). The share offering will not be extended to ineligible shareholders (if any).

The net proceeds from the offering of shares (after deducting estimated costs) are estimated to be approximately HK$184 million (assuming that there is no change in the issued share capital of the Company on or before the record date and all eligible shareholders have subscribed to their allotted shares), and approximately HK$192 million (assuming that all share options have been exercised and there have been no other changes in the issued share capital of the Company on or before the record date, and assuming that all eligible shareholders have subscribed to the shares allotted by them).