MEXAN Proposes 50-for-1 Share Consolidation and Alters Board Lot Size

Stock News

06/05

MEXAN (HKEX: 00022) has announced a proposal to consolidate its shares on a 50-for-1 basis. The plan involves combining every 50 issued and unissued existing shares, each with a par value of HK$0.02, into one consolidated share with a par value of HK$1.00.

The share consolidation is conditional upon, among other things, receiving shareholder approval at an extraordinary general meeting. At the date of this announcement, the existing shares are traded on the Stock Exchange in board lots of 40,000 existing shares.

The Board has further recommended that, upon the share consolidation taking effect, the board lot size for trading on the Stock Exchange will be changed from 40,000 existing shares to 2,000 consolidated shares.

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