China National Culture Group Limited (HK:0745) has released an update.
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China National Culture Group Limited announces a capital reorganization including a share capital reduction and subdivision, alongside a proposed change in board lot size and a rights issue to raise approximately HK$15.6 million. The rights issue will offer two new shares for each adjusted share held, with no provisions for non-qualifying shareholders or excess applications. The reorganization and rights issue aim to mitigate accumulated losses and inject fresh capital into the company.
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