Trendzon Directors Plan Share Consolidation, Share Option Issuance; Stock Hits All-Time Low

MT Newswires Live07-22

Trendzon Holdings Group's (HKG:1865) directors plan to consolidate every 10 shares at HK$0.01 into one consolidated share at HK$0.10 each, according to a Friday filing with the Hong Kong Stock Exchange.

Under the scheme, the 1,416,800,000 existing shares in issue will be consolidated into 141,680,000 shares in issue, the filing said.

Trendzon also plans to issue four rights shares for every consolidated share at HK$0.18 apiece. The company intends to issue up to 610,880,000 rights shares, assuming all shares from the share consolidation and the outstanding share options are issued.

Maximum net proceeds are estimated to be at HK$107 million, the filing said.

The construction engineering company's stock fell nearly 5% in recent Monday trade, hitting an all-time low.

Price (HKD): $0.02, Change: $-0.001, Percent Change: -4.76%

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