Zhihua Group (01842) plans to consolidate shares on a “10 and 1” basis and proposes to change the trading unit of each lot

According to Zhitong Finance App, Zhihua Group (01842) issued an announcement. The board of directors proposed a share merger based on merging the issued and unissued existing shares with a face value of HK$0.01 per 10 shares of the Company's share capital into 1 consolidated share with a face value of HK$0.10 per share.

As of the date of this announcement, the authorized share capital of the Company was HK$100 million (divided into 10 billion existing shares with a face value of HK$0.01 per share), of which 1.44 billion existing shares have been allocated, issued, and fully paid or recorded as fully paid.

After the share merger comes into effect, and assuming that there is no change in the issued share capital of the Company from the date of this announcement until the effective date of the share merger, the Company's authorized share capital will be HK$100 million (divided into 1 billion shares of ordinary shares with a face value of HK$0.10 per share), of which 144 million consolidated shares will be issued and fully paid or recorded in the accounts.

Furthermore, as of the date of this announcement, the trading unit for each lot of existing shares traded on the Stock Exchange was 4,000 existing shares. It is proposed to change the trading unit of each lot traded on the Stock Exchange from 4,000 existing shares to 5,000 consolidated shares after the share merger comes into effect and on the condition of the share consolidation.