China Sci-Tech proposes to decrease share capital

China Sci-Tech (0985) said since the beginning of the year, share price drifted between HK$0.099 and HK$0.042, HK$0.1 lower than its nominal value. According to company rules of registration place, the situation will influence new share issuing. The board meeting proposed to cut down the nominal value from HK$0.1 to HK$0.01 and legal share capital will be decreased from HK$1bln to HK$100mln. As share capital is decreased, China Sci-Tech (0985) will increase 10mln new shares to make legal share capital up to HK$200 mln.

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