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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Hong Kong Exchanges and Clearing Limited    0388   HK0388045442

HONG KONG EXCHANGES AND CLEARING LIMITED

(0388)
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End-of-day quote. End-of-day quote Stock Exchange of Hong Kong - 10/18
238.2 HKD   +0.51%
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Hong Kong Exchanges and Clearing : POLL RESULT OF THE EXTRAORDINARY GENERAL MEETING HELD ON 18 SEPTEMBER 2019 APPROVING THE BONUS ISSUE OF WARRANTS; AND ADJUSTMENT TO THE CONVERTIBLE NOTES

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09/18/2019 | 09:07am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

International Standard Resources Holdings Limited

標 準 資 源 控 股 有 限 公 司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 91)

POLL RESULT OF THE EXTRAORDINARY GENERAL MEETING

HELD ON 18 SEPTEMBER 2019

APPROVING THE BONUS ISSUE OF WARRANTS; AND

ADJUSTMENT TO THE CONVERTIBLE NOTES

The Board is pleased to announce that the EGM Resolution proposed at the EGM held on 18 September 2019 was duly passed by the Shareholders by way of poll.

Reference is made to the circular (the "Circular") and the notice of extraordinary general meeting (the "EGM Notice") both dated 2 September 2019 issued by International Standard Resources Holdings Limited (the "Company"). Terms used in this announcement shall have the same meanings as those defined in the Circular unless the context requires otherwise.

POLL RESULT OF THE EXTRAORDINARY GENERAL MEETING

At the EGM held on 18 September 2019, the ordinary resolution approving the bonus issue of Warrants as set out in the EGM Notice (the "EGM Resolution") was duly passed by the Shareholders by way of poll. The Board is pleased to announce the poll result in respect of the EGM Resolution as follows:

Ordinary Resolution

Number of Votes (%)

Total Votes

FOR

AGAINST

(%)

To consider and approve the bonus

267,540,914

0

267,540,914

issue of Warrants

100.00%

0.00%

100.00%

The full text of the EGM Resolution is set out in the EGM Notice.

1

As more than 50% of the votes (including proxies) were cast in favour of the EGM Resolution at the EGM, the EGM Resolution was duly passed as ordinary resolution of the Company.

As at the date of the EGM, the total issued share capital of the Company was 718,776,925 Shares which represented the total number of Shares entitling the holders to attend and vote for or against the EGM Resolution. There was no Share entitling the Shareholder to attend and abstain from voting in favour of the EGM Resolution proposed at the EGM as set out in Rule 13.40 of the Listing Rules and no Shareholder was required to abstain from voting at the EGM under the Listing Rules. There was no restriction on the Shareholders casting votes on the EGM Resolution at the EGM.

Tricor Standard Limited, the share registrar of the Company, was appointed as the scrutineer of the vote-taking.

ADJUSTMENT TO THE CONVERTIBLE NOTES

As at the date hereof, the Company has outstanding Convertible Notes with an aggregate principal amount of HK$365,000,000 entitling the holders thereof to convert up to 2,607,142,857 Shares.

As a result of the bonus issue of Warrants, the conversion price of the outstanding Convertible Notes and the number of Shares to be allotted and issued upon exercise of all the conversion rights attaching to the outstanding Convertible Notes will be adjusted in the following manner:

Number of

Number of

Shares issuable

Shares issuable

upon exercise of

upon exercise of

Principal

the conversion

the conversion

amount of

rights attaching

rights attaching

Convertible

to all the

to all the

Notes

Conversion

Conversion

outstanding

outstanding

outstanding as

price per

price per

Convertible

Convertible

at the date

Share before

Share after

Notes before

Notes after

hereof

adjustment

adjustment

adjustment

adjustment

HK$

HK$

HK$

365,000,000

0.14

0.12

2,607,142,857

3,041,666,666

2

The adjustments will become effective from the commencement of the date following the Record Date, i.e. 1 October 2019. The Company's auditor has reviewed the adjustment and confirmed in writing that the adjustment is in accordance with the terms and conditions of the Convertible Notes.

By order of the Board

International Standard Resources Holdings Limited

Lo Tsz Fung Philip

Executive Director

Hong Kong, 18 September 2019

As at the date of this announcement, the executive directors of the Company are Mr. Cheng Wai Keung, Mr. Lo Tsz Fung Philip and Mr. Tam Tak Wah and the independent non-executive directors of the Company are Mr. Chan Tsz Kit, Mr. Chan Yim Por Bonnie and Mr. Wang Li.

3

Disclaimer

HKEx - Hong Kong Exchanges and Clearing Ltd. published this content on 18 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 September 2019 13:06:03 UTC

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Financials (HKD)
Sales 2019 16 332 M
EBIT 2019 11 328 M
Net income 2019 9 518 M
Finance 2019 122 B
Yield 2019 2,85%
P/E ratio 2019 31,4x
P/E ratio 2020 27,8x
EV / Sales2019 10,9x
EV / Sales2020 10,7x
Capitalization 300 B
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Technical analysis trends HONG KONG EXCHANGES AND CL
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TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 267,07  HKD
Last Close Price 238,20  HKD
Spread / Highest target 32,7%
Spread / Average Target 12,1%
Spread / Lowest Target -11,8%
EPS Revisions
Managers
NameTitle
Xiaojia Li CEO & Executive Director
Romnesh Lamba Co-President
Chi Kin Tai Co-President & Chief Operating Officer
May Lung Cha Non-Executive Chairman
John F. Killian Chief Financial Officer
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