Monday, 14 April 2014

Matrix proposes 1 for 2 bonus issue

PETALING JAYA: Matrix Concepts Holdings Bhd proposes to undertake a bonus issue on the basis of one bonus share for every two existing shares held by shareholders.

In a filing with Bursa Malaysia, the bonus issue entails a issuance of up to 152.88 million new ordinary shares of RM1.00 each.

The maximum scenario would then result in the group's share capital increasing from RM301.17 million comprising 301.17 million shares of RM1.00 each as at Dec 31, 2013, to RM458.65 million comprising 458.65 million shares of RM1.00 each.

"The bonus issue is in tandem with our current scale of operations, and is anticipated to allow greater participation in the equity of the group," said its chairman Datuk Mohamad Haslah.

The bonus issue is targeted for completion by the third quarter of 2014.

The company also confirms that based on the audited financial statements for the financial year ended Dec 31, 2013, it will have adequate share premium and retained profits to cover the capitalisation required for the bonus issue after the completion of the receipt of dividend.

The bonus issue is targeted for completion by the third quarter of 2014.

Source: Thesundaily

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