KUALA LUMPUR: MALAYAN FLOUR MILLS BHD []'s share price surged on Monday, May 30 after it proposed a share split involving the subdivision of every one existing ordinary share of RM1 each in the company into two new ordinary shares of 50 sen each.
The company also proposed the declaration and payment of special gross dividend of 62 sen per subdivided to its shareholders.
At 10.45am, Malayan Flour Mills was up 71 sen to RM7.46 with 1.25 million shares traded.
In a filing on Monday, May 30, Malayan Flour Mills proposed renounceable rights issue of up to 215.29 million new subdivided shares together with up to 107.64 million free detachable new warrants and up to 107.64 million bonus shares attached on the basis of two Rights Shares together with one Warrant and one Bonus Share for every two subdivided shares held after the proposed share split.
The company has proposed to increase its authorised share capital from RM200 million comprising 200 million shares to RM500 million comprising 1 billion subdivided shares.
The company also proposed the declaration and payment of special gross dividend of 62 sen per subdivided to its shareholders.
At 10.45am, Malayan Flour Mills was up 71 sen to RM7.46 with 1.25 million shares traded.
In a filing on Monday, May 30, Malayan Flour Mills proposed renounceable rights issue of up to 215.29 million new subdivided shares together with up to 107.64 million free detachable new warrants and up to 107.64 million bonus shares attached on the basis of two Rights Shares together with one Warrant and one Bonus Share for every two subdivided shares held after the proposed share split.
The company has proposed to increase its authorised share capital from RM200 million comprising 200 million shares to RM500 million comprising 1 billion subdivided shares.
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