AOM International Proposes 1-for-2 Share Consolidation, Cuts Board Lot Size

MT Newswires Live09-18

AOM International (HKG:381) plans to consolidate every two existing shares into one consolidated share and reduce its board lot size to 10,000 shares from 20,000, according to a Thursday Hong Kong bourse filing.

The company also agreed to amend the terms of a proposed loan capitalization, raising the subscription price to about HK$0.226 from HK$0.113 and reducing the number of shares to be issued to 150.4 million consolidated shares.

Separately, AOM said it is negotiating with the vendor to adjust the conversion price of convertible bonds related to its planned acquisition of a 51% stake in a target company following the proposed share consolidation.

Shares of the firm were up over 1% in Friday morning trade.

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