SOFTMEDX (00648) has announced a proposal to consolidate its shares on the basis of every 20 existing shares being combined into one consolidated share. The share consolidation is subject to approval by shareholders at an extraordinary general meeting.
As of the date of this announcement, the existing shares are traded on the Stock Exchange of Hong Kong in board lots of 5,000 existing shares per lot. The board has recommended that, following the effectiveness of the share consolidation, the board lot size for trading on the Exchange be changed from 5,000 existing shares to 1,000 consolidated shares.
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