Gelonghui May 10 δΈ¨ Xintian Real Estate Group (00760catheongames.HK) Announcement, the Board of Directors hereby announces that the company proposes to carry out and implement a capital reorganization, which will involve the following steps: (a) Capital reduction, which will involve the cancellation of 0.00 paid-up capital per issued share of the companycatheongames0.07 Hong Kong dollars to reduce the company's issued share capital, resulting in the nominal value of each issued share being reduced from HK$0.08 to HK$0.01catheongames;(b) Subject to and immediately following the capital reduction, a share division, which will involve the division of one unissued share with a par value of HK$0.08 each in the company's capital into 8 unissued new shares with a par value of HK$0.01 eachcatheongames;(c) a share premium reduction, which will involve writing off the entire credit to zero in the company's share premium account; and (d) a credit to contributed surplus, which will involve transferring the credit to the contributed surplus account arising from the capital reduction and share premium reduction to the contributed surplus account, and authorising the board to apply the credit to the contributed surplus account in any manner as may be permitted by the Bye-laws, Company Law and all applicable laws, including but not limited to setting off or offsetting the company's accumulated losses from time to time.
