Li Bang International proposes par value cut, share cancellation in capital reorganization plan
LBGJ•Proposed share capital reorganization
Li Bang International outlined a share capital reorganization that cuts par value on all Class A and Class B shares to USD 0.00001 from USD 0.002.
The plan cancels USD 0.00199 of paid-up capital per issued share, moving the resulting credit to a distributable reserve.
Changes to authorized and unissued shares
Authorized but unissued shares would be subdivided 200-for-1 to match the new USD 0.00001 par value.
Unissued shares would then be cancelled to reset authorized share capital to USD 35,000 split into 3,150,000,000 Class A and 350,000,000 Class B shares.
Separate proposal to increase authorized share capital
A separate proposal would lift authorized share capital to USD 7 million via 3,150,000,000 Class A and 350,000,000 Class B shares at USD 0.002 par value.
