Rhone Ma proposes 1-for-10 bonus issuance

TheEdge Thu, Nov 08, 2018 08:46pm - 5 years View Original


KUALA LUMPUR (Nov 8): Rhone Ma Holdings Bhd (RMH) plans to issue bonus shares on the basis of one bonus share for every 10 shares (1-for-10) of the company held by entitled shareholders on a date to be fixed.

In a stock exchange filing today, the company said the proposed exercise will entail the issuance of up to 16.6 million bonus shares. The entitlement date will be announced once determined.

The proposed issuance, which the company said is aimed at rewarding its shareholders, will be implemented by way of capitalisation of RM8.3 million from the company's share premium account, at 50 sen for each bonus share.

Rhone Ma expects the corporate exercise, which will enlarge its share base from RM92.11 million comprising 166 million shares to up to 182.6 million shares, to be completed in the first quarter of 2019.

At market close today, RMH’s share price rose 0.5 sen to 79.5 sen with a market capitalisation of RM131.97 million.

The company, an end-to-end animal health solutions provider, was listed on the Main Market of Bursa Malaysia in December 2016, at an initial public offering price of 75 sen per share.

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

BURSA 7.450
RHONEMA 0.680

Comments

Login to comment.