Key Facts & Investor Actions:
- Capital Reduction: The company proposes to reduce the par value of each share from S$5.00 to S$0.02 (previously S$0.10). This change is intended to provide flexibility for future share issuances and corporate actions like rights issues or private placements.
- Share Cancellation: The paid-up share capital will be reduced by S$87,066,126.84 through the cancellation of S$4.98 on each of the shares in issue on the reorganisation effective date. After the reduction, each share will have a par value of S$0.02.
- Authorized Share Capital: Following the capital reduction, the authorized share capital will be increased to S$200,000,000, divided into 10,000,000,000 shares at a par value of S$0.02 each.
- Financial Effects:
- The company’s Net Tangible Assets (NTA) and gearing ratios remain unchanged after the reorganisation.
- There will be no impact on earnings per share (EPS) as the number of issued shares stays the same.
- Future Circular: More details regarding the capital reorganisation will be included in a circular to shareholders, which will also contain a notice of the Special General Meeting (SGM).
Special Notes for Investors:
- There is no assurance that approval for the proposed capital reorganisation will be obtained.
- Investors are advised to exercise caution when trading shares and consult professional advisors if in doubt.
Exact Details for Investor Action: None mentioned in the document.
