China Aircraft Leasing Group Holdings Limited (CALC) has announced that shareholders may elect to receive the HK$0.14 per-share interim dividend for 1H26 in cash or in new “scrip” shares issued at a 4% discount to market price.\n\nKey terms\n• Record Date: 11 September 2026, with the register closed from 9–11 September.\n• Election deadline: 4:30 p.m. on 20 October 2026; no response results in full cash payment.\n• Scrip pricing: HK$3.565 per share, representing 96% of the HKEX average closing price from 7–11 September 2026.\n• Cash alternative: HK$0.14 per share; based on 759.34 million shares outstanding at the Record Date, the cash payout would total approximately HK$106.31 million if no shareholder opts for scrip.\n\nPotential share issuance and dilution\nIf every eligible shareholder takes the scrip alternative for the full dividend, CALC will issue up to 29.82 million new shares—equivalent to 3.93% of the pre-issue share capital and 3.78% of the enlarged share base.\n\nTimetable and listing\nDefinitive share certificates and cash dividend cheques are scheduled for dispatch on 11 November 2026, with trading in the new shares expected to commence on the HKEX on 12 November 2026, subject to listing approval.\n\nMajor shareholders\n• China Everbright Limited holds 283.42 million shares (37.32% stake). If it elects full scrip, its voting stake will remain below the 2% “creeper” threshold under the Hong Kong Takeovers Code.\n• Executive Director and CEO Poon Ho Man directly and indirectly controls 196.04 million shares (25.82% stake). A full scrip election by Poon would not trigger a mandatory offer requirement.\n\nGeographic eligibility\nThe scrip option is extended to shareholders in the British Virgin Islands and Mainland China, subject to local regulatory compliance. Investors using Southbound Stock Connect can participate through ChinaClear’s nominee arrangements.\n\nCondition precedent\nThe scheme takes effect only upon HKEX granting listing approval for the new shares. Failing that, the entire dividend will be distributed in cash.\n\nStrategic implications\nThe scrip alternative allows shareholders to reinvest dividends without transaction costs while enabling CALC to conserve up to HK$106.31 million in cash for working-capital purposes if fully elected.
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