Q：
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What is redenomination of share capital?
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A：
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Share redenomination is converting its share capital of all shares or specified class of shares from one currency to another currency.
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Q：
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What are the reasons for a company to proceed the share redenomination?
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A：
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Below are the examples for the share redenomination may take place:
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Capital raising from oversea investor(s);
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Moving the core business to a different country; or
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Reducing the impact of exchange rate change in future.
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Q：
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What are the procedures for undertaking a share redenomination?
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A：
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The general steps are below:
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Passing board resolution to purpose and authorise the convention of general meeting;
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Passing relevant resolution(s) at the general meeting;
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Filing relevant form(s) to Companies Registry; and
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Exchanging share certificate(s) and updating register of member(s).
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Q：
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Is there any limited number of times for share redenomination? Can a company change it currency more than one time in a year?
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A：
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No, there is no limitation of time. A company can decide to change the currency of share capital from time to time.
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Q：
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How long does it take for a redenomination of share capital?
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A：
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The redenomination is effective when passing relevant resolution(s). It takes further few working days for Companies Registry to update their record after filing relevant form(s).
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Q：
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Can the process of redenomination changes its number of issued shares?
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A：
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No, redenomination will only alter the currency of the capital, not the number of shares. Redenomination and consolidation/subdivision of shares often take place at the same time for the purpose of round up the amount per share after altering the currency.
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