WAI CHUN BIOTEC (00660) proposes to implement a reduction of capital and a subdivision of shares.

WAI CHUN BIOTEC (00660) announced that the company proposes to implement the following capital restructuring involving capital reduction and stock split: (i) Canceling the fully paid-up share capital of HK$0.25 per share of the existing ordinary shares issued at that time to reduce the company's issued share capital, thereby reducing the nominal value of each existing ordinary share issued from HK$0.25 to HK$0.01; and (ii) Following the capital reduction, the legal but unissued shares with a nominal value of HK$0.25 per share (including those generated from the capital reduction) will be split into 25 new ordinary shares with a nominal value of HK$0.01 per share.