China NT Pharma Shareholders to Vote June 28 on Proposed Share Consolidation

MT Newswires Live06-07

China NT Pharma Shareholders to Vote June 28 on Proposed Share Consolidation Shareholders of China NT Pharma Group (HKG:1011) will meet June 28 to vote on a proposed 10-for-1 share consolidation and a...

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The drugmaker plans to consolidate every 10 issued and unissued existing shares, as well as convertible preference shares, into one consolidated or convertible preference share. Following consolidation, the companyâs authorized share capital will be $50,100 divided into roughly 62.6 billion consolidated shares and 32.5 million consolidated convertible preference shares, each with a par value of $0.0000008.Following the consolidation becoming effective, the company proposes to change the board lot size for trading on the bourse to 10,000 consolidated shares with a value of roughly HK$2,200 from 500 existing shares currently.Shares of the company closed 9% lower on Friday. 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