CAI Corp. to Seek Shareholder Approval for Equity Transfers, New Share Scheme

MT Newswires Live01-21

CAI Corp. (HKG:0080) will hold an extraordinary general meeting on Feb. 10 to seek shareholder approval for two equity transfer agreements involving share issuances, as well as the adoption of a new share scheme, according to a Tuesday Hong Kong bourse filing.

Shares of the firm were down more than 1% in Wednesday morning trade.

Under the proposals, shareholders will be asked to approve two equity transfer agreements with Longling Capital.

The first transaction involves consideration of about HK$52.3 million, to be settled through the issue of up to 145.2 million new shares at an issue price of not less than HK$0.36 per share.

The second transaction involves consideration of about HK$19.3 million, to be settled through the issue of up to 53.6 million new shares, also at a minimum issue price of HK$0.36 per share.

Separately, the company is seeking approval to adopt a 2026 share scheme, under which the scheme mandate limit will be set at 5% of the total issued shares, excluding treasury 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