China Tower Approves Key Share Consolidation and Capital Moves

China Tower (HK:0788) has released an update.

China Tower Corporation Limited recently held its second extraordinary general meeting of 2024, where shareholders approved key resolutions including a remuneration plan for executive directors and a significant share consolidation and capital reduction. The share consolidation will transform every ten existing shares into one consolidated and reduced share, effectively decreasing the company’s total issued share capital. These changes aim to enhance the company’s overall financial structure, with overwhelming shareholder support for both resolutions.

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