CN CULTURAL T&A plans to implement a "5-in-1" share consolidation and change the trading unit per lot
CN CULTURAL T&A announced that the board of directors recommends a share consolidation, merging every 5 shares into 1 share, with the par value increasing from HKD 0.01 to HKD 0.05. This proposal requires approval from shareholders at a special meeting. Additionally, it is proposed to change the trading board lot size from 8,000 shares to 4,000 shares, to be implemented after the share consolidation takes effect
According to the announcement from CN CULTURAL T&A (00542), the board of directors proposes to implement a share consolidation, with the basis being that every 5 existing issued and unissued shares with a par value of HKD 0.01 each will be consolidated into 1 share with a par value of HKD 0.05. The share consolidation must be approved by shareholders at a special general meeting before it can take effect.
In addition, it is proposed to change the trading board lot size on the Stock Exchange from 8,000 existing shares to 4,000 consolidated shares, but this will only take effect after the share consolidation is implemented
