Shareholders of Graphex Group (HKG:6128) will meet March 24 to vote on a proposed plan to consolidate every five issued and unissued shares of HK$0.01 each into one consolidated share of HK$0.05 each, a Jan. 24 bourse filing said.

The graphite company is also proposing to modify the board lot size for trading to 10,000 consolidated shares from 2,000 shares previously.

The authorized share capital will be increased from HK$30 million divided into 2 billion shares and 1 billion preference shares to HK$100 million divided into 9 billion shares, or 1.8 billion consolidated shares post-consolidation.