Biosystems Engineering (01355) plans to increase authorized share capital

Zhitong Finance App News, Biosystems Engineering (01355) issued an announcement. The board of directors of the company proposed increasing the authorized share capital of the Company from HK$20 million (2 billion shares) with a face value of HK$0.01 per share) to HK$100 million (divided into 10 billion shares), and these shares will enjoy the same status as existing shares in all aspects after issuance (increase in authorized share capital).

As of the date of this announcement, 1,193 million shares have been issued, while 806.9 million shares are statutory but unissued. To address the Group's potential growth and development and provide the Company with greater flexibility when raising capital in the future, the Board believes that increasing the authorized share capital is in the overall interest of the Company and its shareholders (shareholders).