Landing International proposes Capital Reorganisation and Change in Board Lot Size

29 May 2018

(29 May 2018, Hong Kong) Landing International Development Limited (“Landing International” or the “Company”, together with its subsidiaries, the “Group”, HKEx Code: 00582) is pleased to announce that its board of directors will propose a capital reorganisation comprising of a fifty-into-one share consolidation (“Consolidation”) and a capital reduction (the “Capital Reorganisation”). Subject to certain conditions, including obtaining shareholders’ approval, the Company anticipates that the Capital Reorganisation will take effect on 4 July 2018.

As a result of the Capital Reorganisation the number of issued shares will be reduced from 146,744,935,542 shares to 2,934,898,710 consolidated shares and the par value of each issued share will remain at HK$0.01. The Company further proposes to change the board lot size for trading on the Stock Exchange from 60,000 shares to 1,200 new consolidated shares conditional upon the Capital Reorganisation becoming effective.

The Company believes that a higher absolute share price following the Consolidation will appeal to a broader base of institutional and sophisticated investors. Greater participation by such investors, especially those with longer investment horizons, is likely to reduce to the volatility of the Company’s share price. Maintaining the par value of its shares at the low value will allow the Company greater flexibility in setting the issue price for future equity fund raising exercises, while the change in the board lot size would maintain the trading amount for each board lot at a reasonable level for the public to invest in its new shares.

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