Muar Ban Lee proposes 1-for-1 bonus issue

TheEdge Wed, Jul 08, 2020 10:51pm - 3 years View Original


KUALA LUMPUR (July 8): Muar Ban Lee Group Bhd (MBL) has proposed a one-for-one bonus issue of up to 147.13 million shares.

The group said the bonus issue is intended to reward  shareholders for their loyalty and continuing support for the group.

It will enable shareholders to have greater participation in the group’s equity, while maintaining the percentage of equity interest, the group added in a filing today.

MBL said the bonus issue is not expected to have any material effect on its earnings for the financial year ending Dec 31, 2020.

However, there will be a corresponding proportional dilution in MBL’s consolidated earnings per share, as a result of the increase in the number of issued MBL shares pursuant to the bonus issue, it added.

The bonus issue is expected to be completed in the third quarter this year.

MBL’s share price closed up one sen or 0.75% at RM1.34, bringing it a market capitalisation of RM135.95 million. The counter saw some 545,400 shares traded.

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