Shareholders of China Metal Resources Utilization or CMRU (HKG:1636) will meet June 30 to vote on the firm's proposed capital reduction, a Tuesday Hong Kong bourse filing said.

The copper products manufacturer is proposing to reduce its issued share capital by cancelling the paid-up capital

to the extent of HK$0.99 on each share, bringing the par value of each share down to HK$0.01 from HK$1 previously.

Following the capital reduction, each authorized but unissued share of par value HK$1 will be sub-divided into 100 new shares of par value HK$0.01 apiece.