PLATT NERA (01949) announced that its board has proposed a share consolidation, under which every five existing shares will be combined into one consolidated share.

As of the announcement date, the company's authorized share capital stands at HKD 100 million, divided into 10 billion existing shares with a par value of HKD 0.01 each. Of these, 960 million shares have been issued and fully paid or credited as fully paid.

Assuming no further issuance, allotment, or repurchase of shares occurs between the announcement date and the completion of the consolidation, the company will have 192 million fully paid or credited consolidated shares post-consolidation. The authorized share capital will remain unchanged at HKD 100 million but will be divided into 2 billion consolidated shares with a par value of HKD 0.05 each.

Currently, the existing shares are traded on the Hong Kong Stock Exchange in board lots of 2,000 shares each. The company proposes to adjust the board lot size from 2,000 existing shares to 4,000 consolidated shares, subject to the share consolidation taking effect.