Brief: Karrie International Says Proposed Spin-Off Of KRP Development Approved By Board

Karrie International Holdings

03/03/2023 01:30

March 3 (Reuters) - Karrie International Holdings Ltd
 1050.HK :
    * ANNOUNCES THAT PROPOSED SPIN-OFF HAS BEEN APPROVED BY
BOARD
    * DECLARED CONDITIONAL DISTRIBUTION IN SPECIE OF ALL KRP
DEVELOPMENT HOLDINGS SHARES
    * PROPOSED SPIN-OFF & SEPARATE LISTING OF SHARES OF KRP
DEVELOPMENT HOLDINGS ON MAIN BOARD OF STOCK EXCHANGE OF HONG
KONG
    * ASSUMING NO CHANGE IN NUMBER OF ISSUED SHARES,
DISTRIBUTION IN
SPECIE ON BASIS OF 1 KRP SHARE FOR EVERY 4 SHARES HELD
    * ASSUMING NO CHANGE IN NUMBER OF ISSUED SHARES, CO TO
SUBSCRIBE
FOR 505.3 MILLION KRP SHARES AT SUBSCRIPTION PRICE OF HK$0.01
EACH

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