Tianrui Automotive Interior (06162.HK) proposes share consolidation on a "40-into-1" basis.

Zhitong Finance APP News, Tianrui Automotive Interiors (06162.HK) announced that the board of directors recommends implementing a share consolidation on the basis of consolidating every 40 existing shares in the company's issued and unissued share capital into 1 consolidated share. As at the date of this announcement, the existing shares issued and fully paid or credited as fully paid were 2.4 billion shares. Assuming that no further shares will be issued from the date of this announcement until the date of the extraordinary general meeting, upon the share consolidation becoming effective, there will be 60 million consolidated shares issued and fully paid or credited as fully paid. The company's authorized share capital will remain at HK$100 million, but will be divided into 250 million consolidated shares of HK$0.4 each. The share consolidation is subject to, among other things, approval by shareholders by way of an ordinary resolution at the extraordinary general meeting before it can take effect.