Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(Incorporated in Bermuda with limited liability)
(Stock Code: 754)
website: http://www.irasia.com/listco/hk/hopson
CHANGE IN BOARD LOT SIZE
The Board announces that the board lot size for trading in the Shares on the Stock Exchange will be changed from 2,000 Shares to 100 Shares with effect from 9:00 a.m. on Tuesday, 11 May 2021. Shareholders may submit their Existing Share Certificates in board lot of 2,000 Shares each to the Share Registrar in exchange for New Share Certificates in board lot of 100 Shares each free of charge between 9:00 a.m. and 4:30 p.m. on any business day from Tuesday, 27 April 2021 to Thursday, 3 June 2021, both dates inclusive.
The Board announces that the board lot size for trading in the Shares on the Stock Exchange will be changed from 2,000 Shares to 100 Shares with effect from 9:00 a.m. on Tuesday, 11 May 2021.
The Shares are currently traded in board lots of 2,000 Shares each. The Board expects that the reduction in board lot size will lower the threshold for investors to purchase the Shares, thus facilitating the trading and improving the liquidity of the Shares, which will enable the Company to attract more investors and therefore broaden the shareholders' base of the Company. Upon the change in board lot size becoming effective, the Shares shall be traded in board lots of 100 Shares each. Based on the closing price of HK$26.75 per Share as quoted on the Stock Exchange as at the date of this announcement, the market value per each board lot of the Shares before the change in board lot size is HK$53,500 and will be HK$2,675 after the change in board lot size.
The change in board lot size will not result in any change in the relative rights of the Shareholders. As no odd lots of the Shares will result from the aforesaid change in board lot size, no odd lot arrangement is required to be made to match the sales and purchases of odd lots. The Board considers that the change in board lot size to be in the interest of the Company and its Shareholders as a whole.
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In order to meet the capital needs of its business operation, the Company has, on an going basis, been exploring various means to raise funds and strengthen its capital base. However, as at the date of this announcement, the Company does not have any definite plan to conduct any other corporate actions or arrangements in the next 12 months, including share consolidation, share subdivision and change in board lot size, which would offset the effect of the change in board lot size.
EXPECTED TIMETABLE | |
The expected timetable for the change in board lot size is set out below: | |
Event | Hong Kong Date and Time |
First day of free exchange of Existing Share | Tuesday, 27 April 2021 |
Certificates in board lot of 2,000 Shares each for | |
New Share Certificates in board lot of 100 | |
Shares each | |
Last day for trading of the Shares in board lot of | Monday, 10 May 2021 |
2,000 Shares in the original counter | |
Effective date of the change in board lot size from | Tuesday, 11 May 2021 |
2,000 Shares to 100 Shares | |
Original counter for trading in the Shares in board | 9:00 a.m. on Tuesday, |
lot of 2,000 Shares each becomes counter for | 11 May 2021 |
trading in the Shares in board lot of 100 Shares | |
each | |
Temporary counter for trading in the Shares in | 9:00 a.m. on Tuesday, |
board lot of 2,000 Shares each opens | 11 May 2021 |
First day of parallel trading in the Shares (in | 9:00 a.m. on Tuesday, |
board lot of 2,000 Shares each and board lot of | 11 May 2021 |
100 Shares each) | |
Temporary counter for trading in the Shares in | 4:10 p.m. on Tuesday, |
board lot of 2,000 Shares each closes | 1 June 2021 |
Last day of parallel trading in the Shares (in board | 4:10 p.m. on Tuesday, |
lot of 2,000 Shares each and board lot of 100 | 1 June 2021 |
Shares each) | |
Last day (and latest time for submission of share | 4:30 p.m. on Thursday, |
certificates to the Share Registrar) for free | 3 June 2021 |
exchange of Existing Share Certificates in board | |
lot of 2,000 Shares each for New Share | |
Certificates in board lot of 100 Shares each |
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EXCHANGE OF NEW SHARE CERTIFICATES
Shareholders may submit their Existing Share Certificates to the Company's branch share registrar in Hong Kong, Computershare Hong Kong Investor Services Limited at 17M Floor, Hopewell Centre, 183 Queens Road East, Wan Chai, Hong Kong in exchange for New Share Certificates free of charge between 9:00 a.m. and 4:30 p.m. on any business day from Tuesday, 27 April 2021 to Thursday, 3 June 2021, both dates inclusive. Thereafter, Existing Share Certificates will be accepted for exchange only on payment of a fee of HK$2.50 (or such higher amount as may from time to time be specified by the Stock Exchange) for each New Share Certificate or each Existing Share Certificate submitted, whichever number of share certificate involved is higher.
It is expected that the New Share Certificates will be available for collection from the Share Registrar by the Shareholders within 10 business days after delivery of the Existing Share Certificates to the Share Registrar for exchange purpose.
With effect from Tuesday, 11 May 2021, all new share certificates will be issued in board lot of 100 Shares each (except for odd lots or where the Share Registrar is otherwise instructed). All Existing Share Certificates will continue to be good evidence of legal title to such Shares and continue to be valid for trading, delivery and settlement purposes.
Save and except for the change in the number of Shares for each board lot, the New Share Certificates will have the same format and colour as the Existing Share Certificates.
DEFINITIONS
In this announcement, unless the context otherwise requires, the following terms shall have the same meanings set out below:
''Board''
''Company''
''Directors''
''Existing Share Certificate(s)''
''Hong Kong''
''New Share Certificate(s)'' ''Share(s)'' ''Shareholder(s)''
the board of Directors of the Company
Hopson Development Holdings Limited, a company incorporated in Bermuda with limited liability and whose shares are listed on the Main Board of the Stock Exchange
the directors of the Company
certificate(s) of Shares in board lot(s) of 2,000 Shares each
Hong Kong Special Administrative Region of the People's Public of China
certificate(s) of Shares in board lot(s) of 100 Shares each
ordinary share(s) of HK$0.10 each in the share capital of the Company
holder(s) of the issued Share(s)
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''Share Registrar'' | Computershare Hong Kong Investor Services Limited, the Company's |
branch share registrar in Hong Kong | |
''Stock Exchange'' | The Stock Exchange of Hong Kong Limited |
''HK$'' | Hong Kong dollars, the lawful currency of Hong Kong |
By order of the Board | |
Hopson Development Holdings Limited | |
Chu Kut Yung | |
Chairman | |
Hong Kong, 20 April 2021 |
As at the date of this announcement, the Board comprises seven directors. The executive directors are Ms. Chu Kut Yung (Chairman), Mr. Zhang Fan (Co-president), Mr. Au Wai Kin, Mr. Xie Bao Xin and Mr. Bao Wenge; and the independent non-executive directors are Mr. Tan Leng Cheng, Aaron and Mr. Ching Yu Lung.
- For identification purpose only
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Hopson Development Holdings Limited published this content on 20 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 April 2021 09:44:02 UTC.