Haina Star Technology (08297) plans to carry out a “5 merge 1” share consolidation and change the trading unit of each lot

According to Zhitong Finance App News, Haina Star Technology (08297) issued an announcement. The board of directors proposed a share merger. According to this, the issued and unissued existing shares with a face value of HK$0.01 for every five shares of the Company's share capital will be consolidated into one consolidated share with a face value of HK$0.05 per share. Stock consolidation is subject to approval by shareholders (including) at the Extraordinary General Meeting of Shareholders before it can actually take place.

As of the date of this announcement, the Company has issued 1,294 million fully paid up or recorded as fully paid up existing shares. After the share merger comes into effect, and assuming that no new existing shares have been issued or repurchased between the date of this announcement and the effective date of the share merger, the Company will have 259 million consolidated shares paid up or recorded as fully issued.

At the date of this announcement, the issued shares were traded on the Stock Exchange at 2,500 existing shares per lot. It is proposed to change the trading unit of each lot traded on the Stock Exchange from 2,500 existing shares to 10,000 consolidated shares after the share merger comes into effect.