PROPOSED CHANGE IN BOARD LOT SIZE Sample Clauses

PROPOSED CHANGE IN BOARD LOT SIZE. As at the date of this announcement, the Existing Shares are traded on the Stock Exchange in board lot of 24,000 Existing Shares. The Board proposes to change the board lot size for trading on the Stock Exchange from 24,000 Existing Shares to 96,000 Adjusted Shares upon the Capital Reorganisation and the Rights Issue becoming effective. Based on the closing price of HK$0.041 per Existing Share as at the date of this announcement, (i) the value of each existing board lot of 24,000 Existing Shares is HK$984; (ii) the value of each board lot of 96,000 Adjusted Shares would be HK$3,936 assuming the Capital Reorganisation and the Rights Issue becoming effective; and (iii) the estimated value per board lot of 96,000 Adjusted Shares would be HK$3,936 assuming that the Change in Board Lot Size had also been effective. The change in board lot size will not result in any change in the relative rights of the Shareholders. REASONS FOR AND EFFECTS OF THE CAPITAL REORGANISATION AND THE CHANGE IN BOARD LOT The Board considers that the Capital Reorganisation will enable the nominal or par value of the Shares to be reduced from HK$0.06 to HK$0.001 each, thus giving greater flexibility to the Company to issue the Adjusted Shares given that the Company is not permitted, without order of the Court, to issue new Shares below their nominal or par value. In order to lower the par value of the shares for facilitating the Rights Issue, it is necessary to implement the Capital Reduction. Please refer to the paragraph headed ‘‘Reasons for the Rights Issue’’ below for the reasons for and benefits of the Rights Issue. In addition, the Board is of the opinion that the Capital Reorganisation will provide the Company with greater flexibility in possible fund raisings in the future. Further, pursuant to the ‘‘Guide on Trading Arrangements for Selected Types of Corporate Actions issued by The Hong Kong Exchange and Clearing Limited on 28 November 2008 and updated on 30 August 2019, the expected value per board lot should be greater than HK$2,000 taking into account the minimum transaction costs for a securities trade. The Existing Shares have been constantly traded below HK$1.00 during the past 12 months. In order to reduce transaction and registration costs incurred by the Shareholders and investors of the Company, the Board proposes to implement Change in Board Lot Size, and it is expected that this will increase the value of each board lot of the Adjusted Shares to more than HK$2,000. A...
Sample 1
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PROPOSED CHANGE IN BOARD LOT SIZE. The Board proposes that, the board lot size of the Shares for trading on the Stock Exchange be changed from 2,000 Shares to 4,000 Shares with effect from 9:00 a.m. on Monday, 24 August 2020. In order to facilitate the trading of odd lots (if any), the Company will arrange odd lot matching services.
Sample 1
PROPOSED CHANGE IN BOARD LOT SIZE. The Board proposes that, subject to the completion of the Rights Issue, the board lot size of the Shares for trading on the Stock Exchange be changed from 2,000 Shares to 4,000 Shares with effect from Monday, 24 August 2020. No new share certificate will be issued to Shareholders. All Share certificates will continue to be good evidence of legal title to such Shares and be valid for transfer, delivery and settlement purposes. Based on the closing price of the Shares on the Last Trading Day of HK$0.6, the theoretical ex-rights price of each Share is HK$0.6. On the basis of such theoretical ex-rights price and the new board lot size of 4,000 Shares, the new board lot value would be HK$2,400. The Change in Board Lot Size will not result in a change in the relative rights of the Shareholders.
Sample 1

Related to PROPOSED CHANGE IN BOARD LOT SIZE

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  • SYSTEM BOARD OF ADJUSTMENT 16.1 In compliance with Section 204, Title II, of the Railway Labor Act, as amended, there is hereby established a System Board of Adjustment for the purpose of adjusting disputes or grievances which may arise under the terms of this Agreement and which are properly submitted to it after all steps for settling disputes and grievances as set forth in Article 15 have been exhausted.

  • CHANGE IN CLASSIFICATION SPECIFICATIONS Section 1. The Employer shall notify the Union of intended classification studies.

  • Change in Classification A change in classification shall not alter a nurse’s accrued seniority for purposes of accrual of benefits or placement in the wage schedule.

  • Downward Reclassification a. When a position is reclassified to another class at the same pay level or to a class that carries a lower salary range, the incumbent trial service or regular employee shall be accorded corresponding status in the new class.

  • Upward Reclassification When a position is reclassified upward a regular incumbent shall be continued in the position. He/she shall be advanced to the higher class with the same status held in the lower class if he/she meets minimum experience and training requirements. When a position is reclassified upward and the incumbent does not have regular status, the position will be filled competitively at the higher level.

  • Change in Scope For substantial modifications in authorized Project scope, and/or substantial modifications of drawings and/or specifications previously accepted by City, when requested by City and through no fault of Consulting Engineer/Architect, the Consulting Engineer/Architect shall be compensated for time and expense required to incorporate such modifications at Consulting Engineer/Architect's standard hourly rates per Exhibit B; provided, however, that any increase in contract price or contract time must be approved through a written change order. Consulting Engineer/Architect shall correct or revise any errors or deficiencies in its designs, drawings or specifications without additional compensation when due to Consulting Engineer/Architect's negligence or other actionable fault.

  • Major Change (2) For a major change referred to in paragraph (1)(a):

  • Franchise Tax Board Review (a) In addition to the reporting requirements in section 6, Taxpayer agrees to comply with the FTB’s review of the books and records for purposes of determining if Taxpayer has complied with the requirements of this Agreement.

  • Shareholder Approval The Company Shareholder Approval shall have been obtained.

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