Beijing Chunlizhengda Medical Instruments Co., Ltd. 北京市春立正達醫療器械股份有限公司
Chunli Medical (1858) tries to justify taxed bonus issue
Company announcement, 23-Apr-2019
This follows a Webb-site complaint to HKEX on 21-Feb-2019. It is against shareholders' interests to send them bonus shares when that triggers a tax on the CNY1 par value of the new shares. The tax is deducted from a cash dividend, costing H-share owners RMB0.1. For domestic owners it is RMB0.2, which, with tax on the dividend, is more than the dividend, so they get no net dividend and owe the company money which it now asks them to pay!
Company announcement, 23-Apr-2019
This follows a Webb-site complaint to HKEX on 21-Feb-2019. It is against shareholders' interests to send them bonus shares when that triggers a tax on the CNY1 par value of the new shares. The tax is deducted from a cash dividend, costing H-share owners RMB0.1. For domestic owners it is RMB0.2, which, with tax on the dividend, is more than the dividend, so they get no net dividend and owe the company money which it now asks them to pay!
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