Xintian Real Estate Group (00760) issued an announcementFifascratchThe company proposes to carry out and implement the equity restructuring, which will involve the following steps:
(a) reduction in share capital, which will involve the cancellation of each issued share of the companyFifascratchPaid-in share capital 0Fifascratch.07 Hong Kong dollars to reduce the issued share capital of the company, so that the par value of each issued share will be changed from 0.FifascratchReduced from HK $08 to HK $0.01
(B) pending and immediately following the reduction of the share capital, the share split will involve the split of one unissued share of HK $0.08 each in the share capital of the company into eight unissued new shares of HK $0.01 each
(C) reduction of share premium, which involves writing off all credits from the company's share premium account to zero
(d) contributed surplus credit, which involves the transfer of credit arising from capital reduction and share premium reduction to the contributed surplus account and authorizes the Board to apply the contributed surplus account credit in any manner permitted by the Bye-laws, the companies Act and all applicable laws, including, but not limited to, offsetting or offsetting the Company's accumulated losses from time to time.
