HONG KONG, Dec. 20, 2016 /PRNewswire/ -- Gold-Finance Holdings Limited ("Gold-Finance Holdings" or "the Company") (Stock Code: 1462.HK), a subsidiary of Gold-Finance Group, the largest wealth management company in Zhejiang Province, is pleased to announce that the ordinary resolutions for Share Subdivision, Change in Board Lot Size and Increase in Authorised Share Capital have been passed in today's extraordinary general meeting.
Share Subdivision:
The existing issued and unissued Shares of HK$0.01 each in the share capital of Gold-Finance Holdings will be subdivided into ten Subdivided Shares of HK$0.001 each. The subdivision of the shares will become effective starting on Wednesday, 21 December 2016, and the dealing of subdivided shares is expected to commence from 9:00 a.m. The parallel trading in shares and subdivided shares (in the form of existing share certificates and new share certificates) will be operated from 9:00 a.m. on Monday, 9 January 2017 to 12:00 noon on Friday, 27 January 2017 (both days inclusive).
Change in Board Lot Size:
After passing the proposal for Share Subdivision, the Board also passed the proposal for Change in Board Lot Size, changing from 4,000 Shares to 2,000 Subdivided Shares. The Change in Board Lot Size will not affect any of the relative rights of the Shareholders. Dealing in the Subdivided Shares on the Stock Exchange in the new board lot size of 2,000 Subdivided Shares is expected to commence at 9:00 a.m. on Monday, 9 January 2017.
Increase in Authorised Share Capital:
The Board also passed the proposal to increase the authorised share capital of the Company to HK$100,000,000 by the creation of additional 9,000,000,000 Shares of HK$0.01 each, all of which will rank pari passu with all existing Shares. The authorised share capital of the Company will be HK$100,000,000 divided into 10,000,000,000 shares, with 400,000,000 Shares in issue (4,000,000,000 Shares in issue effective 21 December 2016) and 9,600,000,000 Shares remaining unissued (6,000,000,000 Shares remaining unissued as at 21 December 2016).
Wei Jie, the Chairman and CEO of the Company said, after the Share Subdivision and Change in Board Lot Size becomes effective, the par value of each Share will decrease, lowering the monetary hurdle of trading in the Shares by potential investors, attracting different kinds of potential investors in the Company, thereby increasing the Shareholders' base to tackle high concentration of the shareholding of the Company in the hands of a limited number of Shareholders. The Board also considers that the increase in the authorised share capital of the Company provides the Company with flexibility for fund raising by allotting and issuing new Shares in the future as and when appropriate for future investment opportunities and for other corporate purposes.
For more details regarding the EGM ordinary resolution result, please visit: http://www.hkexnews.hk/listedco/listconews/SEHK/2016/1220/LTN20161220219.pdf
About Gold-Finance Holdings Limited
Gold-Finance Holdings Limited, formerly Nga Chun Holdings Limited, was sold to parent company Gold-Finance Group on 15 December 2015 with 75% shares acquired, and the Group purchased the remaining amount on 26 January 2016. Currently, Wei Jie, Xu Li Yun, Jiang Junwei and Wong Kam Ting were appointed as Executive Directors of the Company. In April 2016, the Company formally changed its name to Gold-Finance Holdings Limited. This year, the Company's indirectly wholly-owned subsidiary, Hangzhou Jinkai Yuanguan Investment Management Company Limited, entered into a Limited Partnership Agreement with Shanghai Dealchord Asset Management Firm along with another Limited Partner in relation to the formation of Zhongxing New Town Industrial Investment Private Fund, operating as a limited partnership, namely Ningbo Meishan Duty-Free District Jinyouding Investment Management Centre. Furthermore, the Company also acquired the Sale Capital of Hangzhou Jin Zhong Xing Investment Management Company through its indirectly wholly-owned subsidiary, engaging in investment management and investment consultation business.
About Gold-Finance Group
Gold-Finance Group, a comprehensive modern finance group, features four business sectors including Gold-Finance Fortune, new urbanization, culture and education. Gold-Finance Fortune is the largest global wealth management company in the Zhejiang Province, focusing on the development and selling of high-end wealth management products. With accumulated asset under management exceeding RMB30 billion and 60 branches around the world, it is one of the most influential brands in Zhejiang Province. In recent years, the Group began to expand and explore its new town development business. Through the cooperation with local governments in capital, construction and operation, the Group has helped to achieve modern financial driven new urbanization for the local governments. In terms of culture, the Group's main focus is in media investment. The Group is the main investor of "The Mermaid", the highest-grossing film in China. In education, the Group established a partnership with Xi'an Jiantong Liverpool University, sponsoring the School of Finance and School of Media. The Group also actively expanded its PPP business in recent years. In the first half of 2016, the accumulated amount of the Group's signed PPP contracts reached RMB150 billion, focusing on the infrastructure in Zhejiang, Jiangsu and Anhui Province, including investments in subways, bridges, tunnels, highways and sewage treatment plants.
