Brief: Hmvod Updates On Proposed Share Consolidation, Rights Issue

hmvod

19/05/2020 16:00

May 19 (Reuters) - Hmvod Ltd  8103.HK :
    * TO PUT FORWARD PROPOSAL TO SHAREHOLDERS TO EFFECT SHARE
CONSOLIDATION
    * PROPOSES TO IMPLEMENT RIGHTS ISSUE ON BASIS OF FIVE RIGHTS
SHARES FOR EVERY ONE CONSOLIDATED SHARE
    * PROPOSAL TO CONSOLIDATE OF EVERY 10 ISSUED, UNISSUED
EXISTING
SHARES OF HK$0.001 EACH INTO 1 CONSOLIDATED SHARE OF HK$0.01
EACH
    * RIGHTS ISSUE AT HK$0.85 PER SHARE TO RAISE GROSS PROCEEDS
OF
HK$60.5 MILLION
    * ESTIMATED NET PROCEEDS FROM RIGHTS ISSUE WILL BE ABOUT
HK$56.9
MILLION

Source text for Eikon:  ID:nHKS5M6qvJ 
Further company coverage:  8103.HK 

 ((Reuters.Briefs@thomsonreuters.com;))