CHYY GP(08128) suggests implementing equity restructuring.

CHYY GP (08128) announced that the company proposes to implement the following share capital restructuring involving share consolidation, change in trading unit size, reduction of share capital, and splitting of shares. The board of directors proposes to consolidate every 10 shares of both issued and unissued shares with a face value of $0.01 USD to 1 share with a face value of $0.1 USD as the basis for the share consolidation. After the share capital restructuring takes effect, it is proposed that the trading unit size on the Stock Exchange of Hong Kong be changed from 8,000 existing shares to 10,000 consolidated shares. The board of directors further proposes that following the implementation of the share consolidation, a reduction of share capital and splitting of shares be carried out, as follows: (i) the company's issued share capital will be reduced by cancelling a portion of the fully paid share capital of $0.09 USD on each issued consolidated share, reducing the face value of each issued consolidated share from $0.1 USD to $0.01 USD; and (ii) following the reduction of share capital, each unissued consolidated share with a face value of $0.1 USD will be split into 10 shares with a face value of $0.01 USD each.