Detail - AV Concept Holdings Limited
Detail - AV Concept Holdings Limited
Detail - AV Concept Holdings Limited
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LETTER FROM THE BOARD<br />
POTENTIAL DILUTION TO SHAREHOLDING INTERESTS OF THE INDEPENDENT<br />
SHAREHOLDERS<br />
The following table sets out the shareholding structure of the Company (i) as at the Latest<br />
Practicable Date and (ii) upon full utilization of the New General Mandate, for illustrative and<br />
reference purposes:<br />
Immediately after full<br />
utilisation of the<br />
As at the New General Mandate<br />
Shareholders Latest Practicable Date (Note 3)<br />
Number of Number of<br />
Shares % Shares %<br />
So Yuk Kwan (Note 1) 268,5 0,189 .27% 268,5 0,189 6.06%<br />
So Chi On (Note 2) 1,000,000 0.16% 1,000,000 0.1 %<br />
Existing public Shareholders 51,0 0,2 0 56.57% 51,0 0,2 0 7.1 %<br />
Shares potentially<br />
to be issued pursuant<br />
to the New General Mandate – – 12 ,112,08 16.67%<br />
TOTAL 620,560, 19 100.00% 7 ,672,502 100.00%<br />
Note 1: As at the Latest Practicable Date, Dr. So Yuk Kwan, the chairman of the Board and an executive Director, was<br />
deemed to be interested in 268,5 0,189 Shares by virtue of his interests in BKS and Jade <strong>Concept</strong>. As at the<br />
Latest Practicable Date, BKS owned 187,890, 00 Shares and Jade <strong>Concept</strong> owned 80,6 9,889 Shares.<br />
Madam Yeung Kit Ling is the spouse of Dr. So Yuk Kwan. Under the SFO, she is deemed to be interested in<br />
all Shares in which Dr. So Yuk Kwan is interested.<br />
Note 2: Mr. So Chi On is an executive Director of the Company and as at the Latest Practicable Date, Mr. So Chi On<br />
holds 1,000,000 Shares and ,500,000 share options of the Company.<br />
Note 3: Assuming (i) the resolution in relation to the New General Mandate is approved by the Company at the EGM; (ii)<br />
the issued share capital of the Company remains at 620,560, 19 Shares and no Shares are issued or repurchased<br />
by the Company from the Latest Practicable Date to the date of the EGM (both dates inclusive); and (iii) upon<br />
full utilization of the New General Mandate, the Shares to be issued pursuant to the New General Mandate<br />
represent (i) 20% of the existing issued share capital of the Company as at the Latest Practicable Date and (ii)<br />
approximately 16.67% of the enlarged issued share capital of the Company. Accordingly, the shareholding of<br />
the existing public Shareholders will decrease from approximately 56.57% as at the Last Practicable Date to<br />
approximately 7.1 % upon full utilization of the New General Mandate.<br />
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