Taung Gold International Calls Shareholder Meeting to Deliberate on Share Consolidation Plan; Shares Gain 8%
MT Newswires Live
Jul 22
Taung Gold International (HKG:0621) called a meeting of shareholders to deliberate on a plan to consolidate every 10 existing shares into one share and reduce the company's board lot size from 10,000 to 5,000 shares, according to a Hong Kong bourse filing Monday.
Shares of the miner gained nearly 8% in afternoon trade Tuesday.
The company scheduled the meeting for Wednesday, Aug. 6.
The proposed share consolidation will raise the par value per share from HK$0.01 to HK$0.10, while keeping the authorized share capital unchanged at HK$300 million.
The number of issued shares will shrink from about 18.2 billion to 1.82 billion upon effectiveness.
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