PETALING JAYA: MKH Bhd has proposed a one-for-five bonus issue of up to 75.67 million new shares, which is expected to enhance its trading liquidity.
In a filing with Bursa Malaysia, the company said the bonus issue was to award its shareholders and to enlarge its share base. It said the entitlement date would be determined later.
As at Feb 28, MKH’s issued and paid-up capital stood at RM349.25mil comprising 349.25 million shares of RM1 each. It also has 29.1 million outstanding warrants, which are convertible into 29.1 million new shares.
“The actual number of bonus shares to be issued will depend on the issued and paid-up capital of the company on the entitlement date,” it said.
Its paid-up capital could range between RM419.10mil and RM454.03mil, subject to the number of outstanding warrants exercised into new share prior to the entitlement date.
“The proposed bonus issue shall be capitalised from the company’s share premium account and retained earnings account,” it said.
MKH closed 3 sen higher to RM4.10 yesterday with 469,700 shares done.
It said the proposed bonus issue was not expected to have any material effect on its earnings and earnings per share for the financial year ending Sept 30.