MEXAN LIMITED (Stock Code: 00022) has announced plans to consolidate every 50 issued and unissued shares of HK$0.02 each into one share of HK$1.00, subject to shareholder approval at a special general meeting (SGM) on 2 July 2026.

Upon effectiveness—expected on 6 July 2026—the issued share count will contract from 1.97 billion to 39.33 million, while authorised capital remains at HK$60 million, now divided into 60.00 million consolidated shares. All consolidated shares will rank pari passu.

Trading arrangements will change as follows: • Board lot size will move from 40,000 existing shares to 2,000 consolidated shares once the consolidation takes effect. • Based on the last closing price of HK$0.065 per existing share (equivalent to HK$3.25 per consolidated share), the value per board lot will rise from HK$2,600 to HK$6,500.

A temporary counter for trading in 800 consolidated shares (using old certificates) opens on 6 July 2026; parallel trading with new certificates starts on 20 July 2026 and ends on 7 August 2026. Free exchange of share certificates will be available from 6 July 2026 to 11 August 2026, after which a fee of HK$2.50 per certificate will apply. The company will appoint a securities firm to provide odd-lot matching services between 20 July 2026 and 7 August 2026.

The share consolidation aims to lift the trading price above the HK$0.10 threshold required under Listing Rule 13.64 and to broaden the investor base, particularly among institutions that avoid low-priced securities. The board states that the exercise will not affect the Group’s assets, operations or shareholder rights beyond the handling of fractional entitlements.

Conditions for implementation include approval by shareholders at the SGM, listing approval for the consolidated shares from the Stock Exchange and compliance with Bermuda, Hong Kong and Listing Rule requirements. MEXAN notes it has no outstanding convertibles and no current plans for additional share capital actions or equity fundraising within the next 12 months.

Shareholders and investors are advised to exercise caution, as the share consolidation and board lot size change may or may not proceed depending on the fulfillment of the stated conditions.