Macau Legends (1680), operator of the Macau Fisherman’s Wharf, has announced a consolidation of 10 existing shares into one, effective from Friday (1 August). Meanwhile the trading unit for its shares will change from 1,000 existing shares to 4,000 consolidated shares, effective from 15 August. The firm’ s stock price fell by 2.53% on Thursday (31 July), closing at $0.077.
The board of directors of Macau Legends stated that a special general meeting was held on Wednesday (30 July) to vote on the 10-for-1 share consolidation and to authorize a director to sign relevant documents to implement the consolidation. The ordinary resolution was passed with 99.99% approval, taking effect on 1 August. The listing committee of the Hong Kong Stock Exchange has approved the listing and trading of the consolidated shares.
As of Wednesday, Macau Legends had issued a total of approximately 6.201 billion shares, with no treasury shares held by the company. Furthermore, starting on 15 August, its trading unit on the Hong Kong Stock Exchange will change from 1,000 existing shares to 4,000 consolidated shares.
