Brief: Glory Sun Financial Proposes Capital Reduction Be Implemented

Renze Harvest International

15/09/2022 15:47

Sept 15 (Reuters) - Glory Sun Financial Group Ltd  1282.HK :
    * PROPOSES UPON SHARE CONSOLIDATION BECOMING EFFECTIVE
CAPITAL
REDUCTION BE IMPLEMENTED
    * PROPOSES EVERY 20 ISSUED & UNISSUED EXISTING SHARES OF
COMPANY
BE CONSOLIDATED INTO 1 CONSOLIDATED SHARE
    * FOLLOWING CAPITAL REDUCTION, EACH UNISSUED CONSOLIDATED
SHARES
TO BE SUB-DIVIDED INTO 200 NEW SHARES
    * CREDIT ARISING FROM CAPITAL REDUCTION IN AMOUNT OF ABOUT
HK$3.12
BILLION
    * CREDIT ARISING TO BE APPLIED TOWARDS SETTING OFF AGAINST
BALANCE
OF ACCUMULATED LOSSES CO UP TO EFFECTIVE DATE

Source text for Eikon:  ID:nHKS8qtLgK 
Further company coverage:  1282.HK 

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