Newsletter summary
Xintian Real Estate Group (00760Fierce3penn.HK) proposed equity restructuringFierce3pennIncluding reduction of issued share capital, share split, premium reduction and contributed surplus credit.
Text of news flash
[Xintian Real Estate Group (00760Fierce3penn.HK) push forward the equity restructuring planFierce3pennWith the aim of optimizing the capital structure]
The board of directors of Xintian Real Estate Group (00760.HK) revealed that the company is actively promoting an equity restructuring plan aimed at optimizing its capital structure and improving its financial stability. The plan includes steps such as equity reduction, share split, reduction of share premium and credit of contributed surplus to meet market competition and investor demand.
In terms of capital reduction, the company plans to reduce its total share capital by cancelling the paid-in share capital of HK $0.07 per issued share from HK $0.08 to HK $0.01 per share. At the same time, the company will split an unissued share with a face value of HK $0.08 at 1:8 to increase the number of shares.
In addition, Xintian property Group will also reduce the full credit of the share premium account to zero, and transfer the income arising from the equity reduction and the reduction of share premium to the contributed surplus account. The Board has been authorized to apply the contributed surplus account credit in any manner in accordance with the Bye-laws, the companies Law and all applicable laws.
{html}The implementation of the equity restructuring plan will help Xintian Real Estate Group optimize its capital structure and improve financial stability and market competitiveness. Investors can closely follow the follow-up progress of the plan to make informed investment decisions.{html}