Morris Home Proposes 20% Share Issuance, 10% Buyback Plans

MT Newswires Live05-27

Morris Home Holdings (HKG:1575) proposed a 20% share issue mandate to the company's directors and a mandate to buy back up to 10% of all shares issued, according to a Monday filing on the Hong Kong bourse.

With the current 2.75 billion shares in issue, the company will be able to issue 550 million shares and buy back 275 million shares under the mandate. The directors clarified that they do not plan to buy shares back under the mandate currently.

The share issuance and buyback mandate are subject to approval at the annual general meeting.

The company's shares were down by over 3% in recent trading.

Price (HKD): $0.17, Change: $-0.01, Percent Change: -3.33%

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