POLY XVERSE IT (00209) has announced a proposal from its board of directors to consolidate its issued and unissued shares.

The consolidation is planned on the basis of every ten existing shares with a par value of HK$0.01 each being combined into one consolidated share with a par value of HK$0.10.

As of the announcement date, the company's authorized share capital is HK$700 million, divided into 70 billion shares with a par value of HK$0.01 each.

Of these, approximately 1.486 billion existing shares have been allotted, issued, and fully paid up to date, with the company holding no treasury shares.

Following the effective date of the share consolidation, and assuming no further issuance, repurchase, or cancellation of existing shares from the announcement date until then, the company's authorized share capital will remain HK$700 million.

It will then be divided into 7 billion consolidated shares with a par value of HK$0.10 each, of which approximately 148.6 million consolidated shares will be issued and fully paid up.

Currently, the existing shares are traded on The Stock Exchange of Hong Kong in board lots of 10,000 shares each.

The board has proposed that, upon the share consolidation taking effect, the trading board lot size on the exchange will be changed from 10,000 existing shares to 1,000 consolidated shares.

The company stated that this adjustment to the trading board lot size will not result in any changes to its underlying assets, business operations, or financial condition.