Monday, October 10, 2011

TSH proposes 1-for-1 bonus issue

KUALA LUMPUR: TSH RESOURCES BHD [] has proposed a bonus issue on a one-for-one basis of up to 416.64 million new shares.

TSH said on Monday, Oct 10 its issued and paid-up share capital as at Oct 5, 2011 was RM207.75 million, comprising of 415.50 million shares , based on the assumption 6.811 million treasury shares were resold prior to the entitlement date; and assuming full exercise of 1.143 million exercisable options.

'The proposed bonus issue will be effected by way of capitalisation of up to RM208.323 million from the company's share premium, asset revaluation reserve and retained earnings,' it said.

TSH said the proposed bonus issue would increase TSH's capital base to a level which would be more reflective of the current scale of operations of TSH and its subsidiaries.

It added the proposed bonus issue would also reward existing shareholders of the company and might also enhance the marketability and liquidity of TSH shares in Bursa Securities.

TSH added the corporate exercise was not intended to be implemented on a staggered basis.

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