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CATHAY PAC AIR Proposes Capital Reduction to Offset Decline in Distributable Reserves from Shr Buyback
2026-04-15 17:42:35 The board of CATHAY PAC AIR (00293.HK) has proposed a capital reduction by way of a reduction in the credit standing to the share capital account of the company by an amount of HKD6.97 billion. The credit arising from the proposed capital reduction will be applied to CATHAY PAC AIR's capital reduction reserve account and will be regarded as realized profit. The proposed capital reduction will be put forward at the AGM for approval by shareholders by a special resolution. CATHAY PAC AIR previously completed a share buyback, which was settled in cash from its internal resources and existing credit lines. The share buyback resulted in a reduction of the company's distributable reserves by HKD6.97 billion. The proposed capital reduction, which will be in an amount equal to such reduction in the distributable reserves, will result in the creation of a capital reduction reserve account, which will be treated as distributable reserves of the company. Accordingly, the proposed capital reduction will offset the reduction in the distributable reserves arising from the share buyback. ~ AAStocks Financial News Web Site: www.aastocks.com | |