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Lai Sun Development ( a subsidiary of Lai Sun Intl 00191.HK ) is proposing share consolidation ( posted on aastocks website ) :
LAI SUN DEV (00488.HK) +0.001 (+0.498%) proposed to implement the share consolidation on the basis that every fifty (50) issued existing shares be consolidated into one (1) consolidated share. The company also proposed to change the board lot size from 15,000 shares to 300 consolidated shares conditional upon the share consolidation becoming effective. The share consolidation is expected to be effective 8 June.
The share price closed at $0.202 today . So after 1 for 50 consolidation, we should see $10 per share. The NAV should shoot up to $40 per share.
The unknown factor is what happens to the annual dividend ?
LAI SUN DEV (00488.HK) +0.001 (+0.498%) proposed to implement the share consolidation on the basis that every fifty (50) issued existing shares be consolidated into one (1) consolidated share. The company also proposed to change the board lot size from 15,000 shares to 300 consolidated shares conditional upon the share consolidation becoming effective. The share consolidation is expected to be effective 8 June.
The share price closed at $0.202 today . So after 1 for 50 consolidation, we should see $10 per share. The NAV should shoot up to $40 per share.
The unknown factor is what happens to the annual dividend ?