KUALA LUMPUR: TELEKOM MALAYSIA BHD [] has proposed a capital distribution of about RM1.037 billion or 29 sen for each share held.
TM said on Friday, Feb 25 said the proposed capital distribution will be funded through the group's existing cash balances, which stands at RM3.488 billion as at Dec 31, 2010.
It also proposed a bonus issue of about 3,577.4 million redeemable preference shares of one sen each in TM (RPS) to shareholders, on the basis of one RPS for each TM share held on the entitlement Date.
The RPS shall be issued at its par value of one sen each by way of capitalisation of TM's share premium account.
TM said the redemption of the RPS shall be at a redemption price of 29 sen for each TM share held.
'The par value of one sen per RPS, representing approximately RM35.8 million in total, will be redeemed out of TM's retained profits, whereas the premium on redemption of 28 sen per RPS, representing approximately RM1 billion in total, will be redeemed out of TM's share premium account.
'This will result in a cash payment of 29 sen for each TM share held or a total cash payment of approximately RM1.037 billion to TM's shareholders,' it said.
TM said on Friday, Feb 25 said the proposed capital distribution will be funded through the group's existing cash balances, which stands at RM3.488 billion as at Dec 31, 2010.
It also proposed a bonus issue of about 3,577.4 million redeemable preference shares of one sen each in TM (RPS) to shareholders, on the basis of one RPS for each TM share held on the entitlement Date.
The RPS shall be issued at its par value of one sen each by way of capitalisation of TM's share premium account.
TM said the redemption of the RPS shall be at a redemption price of 29 sen for each TM share held.
'The par value of one sen per RPS, representing approximately RM35.8 million in total, will be redeemed out of TM's retained profits, whereas the premium on redemption of 28 sen per RPS, representing approximately RM1 billion in total, will be redeemed out of TM's share premium account.
'This will result in a cash payment of 29 sen for each TM share held or a total cash payment of approximately RM1.037 billion to TM's shareholders,' it said.
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