Win Hanverky (03322) said the aggregate sum of HK$265 million standing in the credit of the shareholder's loans account of its indirect non-wholly-owned subsidiary Win Sports Limited to Frankton International Limited, a directly wholly-owned subsidiary of Win Hanverky, were capitalised and a total of 265 million new Win Sports shares were issued to Frankton International under capitalisation of the shareholder's loans.
The loan capitalisation was carried out as a restructuring of the Group's sportswear retail business in anticipation of future development. As a result, the percentage of the shareholding in Win Sports held by Frankton International increased from 75% to 94.2%.
Win Sports is principally engaged in sportswear retail business in Hong Kong. It has a number of self-managed sportswear retail shops in Hong Kong under the names of "Futbol Trend", "Sports Corner" and "Little Corner" as well as several international sports brands.
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