ESPRIT HOLDINGS (00330) plans to implement a stock capital restructuring.

ESPRIT HOLDINGS (00330) announced that the Board of Directors recommends the implementation of the following share capital restructuring scheme: The share consolidation will consolidate every 10 existing and unissued shares with a par value of HK$0.1 each into 1 consolidated share with a par value of HK$1. Following the effective date of the share consolidation, share capital reduction and share subdivision will be implemented, whereby: (i) in applicable cases, any fractional consolidated shares resulting from the share consolidation will be eliminated to reduce the total number of consolidated shares to an integer; (ii) the company's issued consolidated shares with fully paid-up capital will be cancelled at HK$0.9 per share, reducing the par value of each issued consolidated share from HK$1 to HK$0.1; (iii) the proceeds from the share capital reduction will be transferred to the company's paid-in surplus account for the Board of Directors to utilize in a manner they deem appropriate; (iv) each unissued consolidated share with a par value of HK$1 (including unissued consolidated shares generated from the share capital reduction) will be subdivided into 10 new shares with a par value of HK$0.1 each. Therefore, following the completion of the share capital restructuring, the company's authorized share capital will remain at HK$3 billion, divided into 300 billion new shares. Furthermore, the Board of Directors recommends that after the share capital restructuring takes effect, the trading unit on the Stock Exchange will change from 2,500 existing shares to 10,000 new shares.