UNI HEALTH (02211) is planning to implement a share capital restructuring.

UNI HEALTH (02211) Announces that the company proposes to implement a share capital restructuring, which involves: (i) a reduction in share capital by cancelling off fully the existing issued shares at a price of $0.09 per share, resulting in a decrease in the face value of the existing issued shares from $0.10 to $0.01; (ii) a subdivision of shares, which will be effective immediately after the share capital reduction, whereby each existing share with a face value of $0.10 will be subdivided into 10 shares with a adjusted face value of $0.01 per share; and (iii) the proceeds generated from the share capital reduction will be used to offset the accumulated losses of the company as of the effective date of the share capital reduction, thereby reducing the company's accumulated losses. Any remaining proceeds (if any) will be transferred to the company's available for distribution reserve account, and the company may apply such proceeds in any manner deemed appropriate by the board of directors in accordance with all relevant laws and the company's articles of association. The board of directors proposes to issue up to 442 million new shares at a subscription price of HK$0.40 per share through a rights issue after the share capital restructuring takes effect, in order to raise approximately HK$176.9 million (before expenses). Shareholders holding adjusted shares will be entitled to receive 4 rights shares for every 1 share held on the record date (subscription money to be fully paid upon acceptance). The rights issue will not be underwritten and will not be extended to ineligible shareholders (if any). The company will distribute 4 shares with unpaid subscription money for every 1 share held by eligible shareholders holding adjusted shares on the record date.