OKA proposes one-for-two bonus issue

TheEdge Thu, Jun 28, 2018 08:41pm - 5 years View Original


KUALA LUMPUR (June 28): OKA Corp Bhd plans to undertake a bonus issuance on the basis of one bonus share for every two existing shares held (one-for-two basis), it announced today.

“The proposed bonus issue will increase the number of OKA shares but will not increase the value of the issued share capital of OKA,” it said in a filing with Bursa Malaysia.

OKA currently has 5.08 million outstanding options granted under the group's Executives Share Option Scheme (ESOS), exercisable into new shares up to Jan 4, 2020.

“The company has undertaken not to grant any further ESOS options to any eligible employee from June 8, 2018 until the completion of the proposed bonus issue,” the filing added.

OKA may issue between 81.8 million to 84.34 million new shares under the bonus issue.

Pending approval from Bursa Securities and its shareholders, OKA expects the proposed bonus issue to be completed by the fourth quarter of 2018.

Shares of OKA slipped 1 sen or 0.76% to RM1.30 today, giving it a market capitalisation of RM212.68 million. In the past one year, the stock has declined some 23%.

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