MSC Announces Proposed Bonus Issue: What Shareholders Need to Know
In a recent announcement, Malaysia Smelting Corporation Berhad (MSC) revealed its plans to undertake a proposed bonus issue, which has been approved by Bursa Securities. Here are the key points that shareholders need to know:
Key Points:
MSC proposes to issue 420,000,000 new bonus shares to its shareholders.
The proposed bonus issue has been approved by Bursa Securities, subject to certain conditions.
The company must comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the proposed bonus issue.
Important Details for Shareholders:
The proposed bonus issue is a significant corporate action that may affect the share price of MSC. Shareholders should take note of the following:
The bonus issue will result in the issuance of 420,000,000 new shares, which will increase the company’s share capital.
The company must obtain shareholder approval for the proposed bonus issue at a forthcoming general meeting.
UOBKH, the company’s sponsor, must inform Bursa Securities upon completion of the proposed bonus issue.
The company must furnish Bursa Securities with a certified true copy of the resolution passed by shareholders at the general meeting.
What Does This Mean for Shareholders?
The proposed bonus issue may have a positive impact on the company’s share price, as it may increase the liquidity of the shares and make them more attractive to investors. However, shareholders should also be aware of the potential dilution of their shareholding due to the issuance of new shares.
Conditions for Approval:
The approval of the proposed bonus issue is subject to the following conditions:
MSC and UOBKH must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the proposed bonus issue.
UOBKH must inform Bursa Securities upon completion of the proposed bonus issue.
MSC/UOBKH must furnish Bursa Securities with a certified true copy of the resolution passed by shareholders at the general meeting.
UOBKH must furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the proposed bonus issue is completed.
Next Steps:
The company will need to convene a general meeting to obtain shareholder approval for the proposed bonus issue. Shareholders should take note of the date of the general meeting and exercise their voting rights accordingly.
Conclusion:
The proposed bonus issue by MSC may have a significant impact on the company’s share price and shareholders’ interests. We recommend that shareholders carefully consider the implications of this corporate action and seek professional advice if necessary.
Disclaimer:
This article is for informational purposes only and should not be considered as investment advice. Shareholders should consult the company’s announcements and financial statements for more information. We do not guarantee the accuracy or completeness of the information provided.
HTML Version:
MSC Announces Proposed Bonus Issue: What Shareholders Need to Know
Key Points:
- MSC proposes to issue 420,000,000 new bonus shares to its shareholders.
- The proposed bonus issue has been approved by Bursa Securities, subject to certain conditions.
- The company must comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the proposed bonus issue.
Important Details for Shareholders:
The proposed bonus issue is a significant corporate action that may affect the share price of MSC. Shareholders should take note of the following:
- The bonus issue will result in the issuance of 420,000,000 new shares, which will increase the company’s share capital.
- The company must obtain shareholder approval for the proposed bonus issue at a forthcoming general meeting.
- UOBKH, the company’s sponsor, must inform Bursa Securities upon completion of the proposed bonus issue.
- The company must furnish Bursa Securities with a certified true copy of the resolution passed by shareholders at the general meeting.
What Does This Mean for Shareholders?
The proposed bonus issue may have a positive impact on the company’s share price, as it may increase the liquidity of the shares and make them more attractive to investors. However, shareholders should also be aware of the potential dilution of their shareholding due to the issuance of new shares.
Conditions for Approval:
- MSC and UOBKH must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the proposed bonus issue.
- UOBKH must inform Bursa Securities upon completion of the proposed bonus issue.
- MSC/UOBKH must furnish Bursa Securities with a certified true copy of the resolution passed by shareholders at the general meeting.
- UOBKH must furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the proposed bonus issue is completed.
MSC’s Proposed Bonus Issue: A Potential Share Price Mover? 1
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