ZHONGHUA GAS (08246) announced that the Board of Directors has proposed a share consolidation on the basis of consolidating every eight existing shares into one consolidated share. As of the date of this announcement, there are 4.738 billion issued existing shares, all of which are fully paid up or credited as fully paid. Assuming no additional shares are issued between the date of this announcement and the date of the Extraordinary General Meeting, following the effective date of the share consolidation, there will be 592 million issued consolidated shares that are fully paid up or credited as fully paid. The company's authorized share capital will remain at HKD 80 million, but will be divided into 8 billion consolidated shares with a nominal value of HKD 0.01 each. As of the date of this announcement, the existing shares are traded on the Stock Exchange in board lots of 8,000 existing shares each. Subject to and conditional upon the share consolidation taking effect, it is proposed that the board lot size for trading the consolidated shares on the Stock Exchange be changed from 8,000 existing shares to 5,000 consolidated shares. Based on the closing price of HKD 0.08 per existing share as quoted on the Stock Exchange on the date of this announcement, and assuming the share consolidation has become effective, the theoretical value of a board lot of 5,000 consolidated shares would be HKD 3,200 (calculated based on a theoretical closing price of HKD 0.64 per consolidated share).