Brief: Asia Commercial Holdings Proposes Capital Reorganisation
11/05/2018 14:32
May 11 (Reuters) - Asia Commercial Holdings Ltd 0104.HK :
* PROPOSES CAPITAL REORGANISATION COMPRISING SHARE
CONSOLIDATION,
CAPITAL REDUCTION & CAPITAL INCREASE
* PROPOSES SHARE CONSOLIDATION WHERE EVERY TWO ISSUED &
UNISSUED
SHARES WILL BE CONSOLIDATED INTO ONE CONSOLIDATED SHARE
* PROPOSAL, IF APPROVED AND EFFECTED, WILL ENABLE COMPANY
TO,
AMONG OTHER THINGS, ELIMINATE ITS ENTIRE ACCUMULATED LOSSES
* NO INTENTION TO CONDUCT FUND RAISING EXERCISES IN NEXT 12
MONTHS
WHICH WILL OFFSET EFFECT OF CAPITAL REORGANISATION
* CAPITAL REORGANISATION WILL NOT HAVE ANY MATERIAL ADVERSE
EFFECT
ON FINANCIAL POSITION OF CO OR ITS OVERALL NET ASSET VALUE
Source text for Eikon: urn:newsml:reuters.com:*:nHKS1zRY0D
Further company coverage: 0104.HK
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