KUALA LUMPUR: Analabs Resources Bhd has proposed to undertake a one-for-one bonus issuance.

In a filing with Bursa Malaysia yesterday, Analabs said the proposed bonus issue will entail the issuance of 60.02 million bonus shares. As at July 20, Analabs’ issued share capital was RM66.27 million, comprising 60.02 million shares, with 4.3 million treasury shares held by the company.

The corporate exercise is expected to double the waste management solutions provider’s share capital to 120.05 million shares, to better reflect the group’s current scale of operations and assets.

Analabs, which is in recycling and waste management and repackaging of chemicals, said save for the dilution in its earnings per share, the proposed bonus issue is not expected to have any material effect on the group’s earnings for the financial year ended April 30, 2018.

The proposed bonus issue is expected to be completed in the fourth quarter of 2018.