[Edaily Reporter Park Sun-Yeop ] CoAsia CM(196450)announced on the 26th that it has decided to conduct a stock consolidation, changing the par value per share from 1,000 won to 5,000 won.
As a result of this stock consolidation, the total number of issued shares will decrease from 45,319,582 common shares to 9,063,916.
The company explained that the purpose of the stock consolidation is “to stabilize the stock price and enhance corporate value by maintaining an appropriate number of shares in circulation.”
This stock consolidation is not a capital reduction that decreases the company’s capital; rather, it is a stock consolidation method that preserves corporate value. Fractional shares (less than one share) will be settled in cash based on the closing price on the first day of trading of the new shares.
The stock consolidation proposal will be submitted to the Extraordinary General Meeting of Shareholders on August 6. The effective date for the new shares is August 11, and trading is scheduled to be suspended from August 7 through August 27. The new shares are scheduled to be listed on August 28.
As a result of this stock consolidation, the total number of issued shares will decrease from 45,319,582 common shares to 9,063,916.
The company explained that the purpose of the stock consolidation is “to stabilize the stock price and enhance corporate value by maintaining an appropriate number of shares in circulation.”
This stock consolidation is not a capital reduction that decreases the company’s capital; rather, it is a stock consolidation method that preserves corporate value. Fractional shares (less than one share) will be settled in cash based on the closing price on the first day of trading of the new shares.
The stock consolidation proposal will be submitted to the Extraordinary General Meeting of Shareholders on August 6. The effective date for the new shares is August 11, and trading is scheduled to be suspended from August 7 through August 27. The new shares are scheduled to be listed on August 28.
