ZHENGWEI GROUP (02147) Proposes Share Consolidation on "20-to-1" Basis

Stock News10-31

ZHENGWEI GROUP (02147) announced that its board has proposed a share consolidation on the basis of every 20 issued and unissued existing shares with a par value of $0.01 each being consolidated into one consolidated share with a par value of $0.20 each. As of the announcement date, 1.12 billion existing shares have been allotted and issued, with no treasury shares held by the company. Upon the share consolidation taking effect, assuming no further issuance, repurchase, or cancellation of existing shares from the announcement date to the effective date, the total number of issued consolidated shares will not exceed 56 million. Currently, the existing shares are traded on the stock exchange in board lots of 4,000 shares each. After the consolidation, the trading board lot for consolidated shares will remain at 4,000 shares per lot.

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