Cocoon Launches Share Consolidation, Capital Reduction Plan

MT Newswires Live07-02

Cocoon Holdings' (HKG:0428) proposed capital reorganization became effective Tuesday, following the receipt of shareholder approval, a same-day bourse filing said.

Under the reorganization, every 10 issued and unissued existing shares of par value HK$0.1 apiece will be consolidated into one consolidated share of par value HK$1.

Following the share consolidation, the company's issued share capital will be reduced through a rounding down of the consolidated shares to the nearest whole number.

The paid-up capital of the securities investor will then be canceled to the extent of HK$0.99 on each consolidated share to reduce its par value from HK$1 to HK$0.01, according to the filing.

Following the capital reorganization becoming effective, the board lot size for trading on the bourse will also change from 2,000 existing shares to 4,000 new shares.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment