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2003-12-5 09:14:00 a.m. HKT, XFNA
Hong Kong's Dickson Group to change domicile, reorganise capital structure
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HONG KONG (AFX-ASIA) - Construction contractor Dickson Group Holdings Ltd
(313.HK) said it proposed to change its domicile from the Cayman Island to
Bermuda and reorganise its capital structure.
The reorganisation will see the par value of every issued share reduced
to 0.01 hkd from 0.10 by cancelling paid-up capital of 0.09 per share.
The change will reduce the company's paid-up capital from 71.196 mln hkd
to 7.119 mln and the credit of 64.076 mln generated will be transferred to
the contributed surplus account.
Each of the company's authorised but unissued shares of par value 0.10
hkd each will be subdivided into 10 shares of par value 0.01 each.
The company will also change its trading board lot from 2,000 to 20,000
shares.
It said the move will provide more flexibility to issues of new shares.
Under Hong Kong's regulations, companies cannot issue new shares at
prices below the par value.
Dickson was last traded at 0.10 hkd.
(1 usd = 7.80 hkd)
peter.chan@afxasia.com
ptc/mh
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