MULTIPLE PROPOSALS XIDELANG HOLDINGS LTD ("XDL" OR THE "COMPANY") (I) PROPOSED PAR VALUE REDUCTION; AND (II) PROPOSED ESOS (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
| XIDELANG HOLDINGS LTD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | XIDELANG HOLDINGS LTD ("XDL" OR THE "COMPANY")
(I) PROPOSED PAR VALUE REDUCTION; AND
(II) PROPOSED ESOS
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS") |
|
On behalf of the Board of Directors of the Company, Mercury Securities Sdn Bhd wishes to announce that the Company proposes to undertake the following proposals:-
(i) a par value reduction via cancellation of USD0.039 of the par value of every existing issued and unissued share of the Company of USD0.04 pursuant to Sections 45 and 46 of the Companies Act, 1981 of Bermuda (“Proposed Par Value Reduction”); and
(ii) an establishment of an employees’ share options scheme involving up to 15% of the total number of issued shares of the Company (excluding treasury shares, if any) for eligible directors and employees of the Company and its subsidiaries (“Proposed ESOS”),
(collectively referred to as the “Proposals”).
Please refer to the attached document for further details on the Proposals.
This announcement is dated 22 July 2020. |
|
Please refer attachment below.
Announcement Info
| Company Name | XIDELANG HOLDINGS LTD |
| Stock Name | XDL |
| Date Announced | 22 Jul 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-22072020-00104 |