Tianrui Auto Interior (06162) plans to implement share merger on a “40 and 1” basis

Zhitong Finance App News, Tianrui Auto Interior (06162) issued an announcement. The board of directors proposed to implement a share merger based on the basis of merging every 40 existing shares in the company's issued and unissued share capital into 1 consolidated share. The number of existing shares issued and fully paid or recorded as fully paid as at the date of this announcement was 2.4 billion. Assuming that no further shares will be issued from the date of this announcement until the date of the special shareholders' meeting, after the share merger comes into effect, there will be 60 million consolidated shares that have been issued and fully paid up or recorded in the accounts. The Company's authorized share capital will remain at HK$100 million, but will be divided into 250 million shares of consolidated shares of HK$0.4 million each. Stock mergers (including) are subject to approval by shareholders in the form of an ordinary resolution at the special shareholders' meeting to be implemented.

As of the date of this announcement, existing shares were traded on the Stock Exchange as trading units of 8,000 existing shares in each lot. It is proposed that after the share merger comes into effect, the trading unit of each lot traded on the Stock Exchange will be changed from 8,000 existing shares to 1,000 consolidated shares.