内容导读：Gelonghui,April30th,ChinaTiangongHoldings(00428)CandycrushgamedownloadfreeHK)noticethattheBoardofDirectorsr...……
Gelonghui, April 30th, China Tiangong Holdings (00428)CandycrushgamedownloadfreeHK) notice that the Board of Directors recommends the implementation of a share restructuring involving the following matters: (I) share consolidation, whereby every ten (10) issued and unissued existing shares of HK $0.1 each will be merged into one (1) consolidated share of HK $1.0 eachCandycrushgamedownloadfree
(ii) Capital reduction immediately following the entry into force of the share merger, under which the issued share capital of the company will be reduced by (a) cancelling any fractional shares of the consolidated shares in the issued share capital of the company, thereby rounding down the total number of consolidated shares in the issued share capital of the company to the nearest integer. And (b) write off HK $0.99 per share of the then issued Consolidated shares to reduce the nominal value of each issued Consolidated share from HK $1.00 to HK $0.01, thereby reducing the paid-up share capital of the company.
(iii) it is subdivided immediately after the capital reduction, whereby each legal but unissued consolidated share (including the statutory unissued consolidated share resulting from the capital reduction) will be subdivided into one hundred (100) shares of HK $0.01each, so that the authorized share capital of the company will be HK $1000000000 immediately after the capital restructuring.
(iv) reduce the share premium immediately after the equity reduction and subdivision take effect, under which the total credit to the share premium account will be reduced to zero And (v) after the capital reorganisation takes effect, the income of HK $131753770 arising from the capital reduction and the reduction in share premium will be transferred to the contributed surplus account of the company within the meaning of the companies Law, which will subsequently be used to offset the accumulated losses of the company or may be applied from time to time by the board of directors in such manner as permitted by these articles and all applicable laws of Bermuda without further authorization of the shareholders.
As at the date of this announcement, the existing shares are traded in 2000 existing shares per lot. It is proposed that after the capital restructuring takes effect, each trading unit traded on the Stock Exchange will be changed from 2000 existing shares to 4000 new shares.