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China Public Healthcare (8116): shareholders veto share consolidation
Company announcement, 8-Jun-2012
Told to consolidate by the Exchange, substantial shareholders vote it down. They can still change the board lot size without shareholders' approval. Currently 5,000 shares are only $375, which means that scrip fees charged by HKEx of $1.5 per board lot are 0.4% of the purchase price. Will HKEx, as Listing Regulator, require the company to change the board lot, or will HKEx, as a for-profit company, leave the board lot low to help fee income?
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