Wednesday, May 18, 2011

EON Cap to distribute remaining RM1.79b to shareholders

KUALA LUMPUR: EON CAPITAL BHD [] will distribute the remaining cash proceeds of RM1.79 billion to shareholders via a proposed capital repayment exercise.

It said on Wednesday, May 18 the RM1.79 billion was the remaining amount from the RM5.37 billion which it received from HONG LEONG BANK BHD [] (RM5.06 billion) and the interim dividend from EON Bank Bhd (RM311.94 million).

On Monday, May 16, EON Cap declared a special tax-exempt dividend of RM5.16 per share amounting to RM3.57 billion which was the first tranche of the total cash proceeds to be distributed back to entitled shareholders of EONCap.

EON Cap said the balance total cash proceeds of RM1.79 would be distributed to entitled shareholders. However, it is still subject to the confirmation of the High Court of Malaya in accordance with Section 64 of the Companies Act, 1965.

'The final amount to be distributed back to the entitled shareholders of EONCap will be finalised by the board of directors of the company at a later date, after obtaining an order from the High Court pursuant to the proposed capital repayment,' it said.

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