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- Announcement on behalf of it subsidiary's BOD's resolution of capital reduction in cash.
2023-04-17
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Announcement on behalf of it subsidiary's BOD's resolution of capital reduction in cash.
Subject：Announcement on behalf of it subsidiary's BOD's resolution of capital reduction in cash.
To which item it meets：paragraph 11
Date of events： 2023/4/17
Statement：
1.Date of the board of directors resolution:2023/04/17
2.Reason for capital reduction:In order to align with the Group’s aggregate capital planning, the wholly indirectly owned subsidiary Sinyi International Limited shall conduct capital reduction by US$ 12,000 thousand in cash.
3.Amount of capital reduction:US$ 12,000 thousand
4.Cancelled shares:12,000,000 shares
5.Capital reduction percentage:3.48%
6.Share capital after capital reduction:US$333,249 thousand
7.Scheduled date of the shareholders meeting:2023/04/17
8.Estimated no.of listed common shares after issuance of new shares upon capital reduction:Not applicable
9.Estimated ratio of listed common shares after issuance of new shares upon capital reduction to outstanding common shares:Not applicable
10.Please explain any countermeasures for lower circulation in shareholding if the aforesaid estimated no.of listed common shares upon capital reduction does not reach 60 million and the percentage does not reach 25%:Not applicable
11.The record date for capital reduction:Not applicable
12.Any other matters that need to be specified: (1)Sinyi Real Estate (Shanghai) Limited decreases capital by US$60,000 thousand in cash and remits its funds to its parent company Sinyi Real Estate (Hong Kong) Limited. Then Sinyi Real Estate (Hong Kong) Limited decreases capital by equal amount and remits the funds to Sinyi Development Ltd., the parent company. Finally, Sinyi Development Ltd. decreases the capital by the same amount in cash and remits the funds to its parent company Sinyi International Limited, for the overall use of the group. And we have announced the information on Oct. 11th, 2022. (2)In line with the Group's capital planning, Sinyi International Limited will reduce its capital by USD$12,000 thousand and remit the funds back to the Company, with the remaining USD$48,000 thousand for future capital planning. (3)Plan for capital reduction and replacement of shares:NA (4)Record date of replacement of shares:NA (5)Book closure starting date:NA (6)Book closure ending date:NA (7)Rights and obligations of the new shares after capital reduction: Same as the original issued shares. (8)Anticipated listing date for the new shares:NA
To which item it meets：paragraph 11
Date of events： 2023/4/17
Statement：
1.Date of the board of directors resolution:2023/04/17
2.Reason for capital reduction:In order to align with the Group’s aggregate capital planning, the wholly indirectly owned subsidiary Sinyi International Limited shall conduct capital reduction by US$ 12,000 thousand in cash.
3.Amount of capital reduction:US$ 12,000 thousand
4.Cancelled shares:12,000,000 shares
5.Capital reduction percentage:3.48%
6.Share capital after capital reduction:US$333,249 thousand
7.Scheduled date of the shareholders meeting:2023/04/17
8.Estimated no.of listed common shares after issuance of new shares upon capital reduction:Not applicable
9.Estimated ratio of listed common shares after issuance of new shares upon capital reduction to outstanding common shares:Not applicable
10.Please explain any countermeasures for lower circulation in shareholding if the aforesaid estimated no.of listed common shares upon capital reduction does not reach 60 million and the percentage does not reach 25%:Not applicable
11.The record date for capital reduction:Not applicable
12.Any other matters that need to be specified: (1)Sinyi Real Estate (Shanghai) Limited decreases capital by US$60,000 thousand in cash and remits its funds to its parent company Sinyi Real Estate (Hong Kong) Limited. Then Sinyi Real Estate (Hong Kong) Limited decreases capital by equal amount and remits the funds to Sinyi Development Ltd., the parent company. Finally, Sinyi Development Ltd. decreases the capital by the same amount in cash and remits the funds to its parent company Sinyi International Limited, for the overall use of the group. And we have announced the information on Oct. 11th, 2022. (2)In line with the Group's capital planning, Sinyi International Limited will reduce its capital by USD$12,000 thousand and remit the funds back to the Company, with the remaining USD$48,000 thousand for future capital planning. (3)Plan for capital reduction and replacement of shares:NA (4)Record date of replacement of shares:NA (5)Book closure starting date:NA (6)Book closure ending date:NA (7)Rights and obligations of the new shares after capital reduction: Same as the original issued shares. (8)Anticipated listing date for the new shares:NA