CITY COOLXUAN (08050) announced a proposed share consolidation, under which every five issued and unissued existing shares with a par value of HK$0.10 each will be consolidated into one share with a par value of HK$0.50 each. As of the announcement date, the existing shares are traded on the Stock Exchange in board lots of 2,000 existing shares each. The company does not intend to change its existing board lot size.

Currently, the authorized share capital of the company is HK$200 million, divided into 2 billion existing shares with a par value of HK$0.10 each. Of these, 1.356 billion existing shares have been issued and fully paid up or credited as fully paid. The share consolidation is subject to approval by shareholders via an ordinary resolution at an extraordinary general meeting, among other conditions.