April 2, 2015 : 11:38 PM MYT
KUALA LUMPUR (Apr 2): ACE Market-listed rubber glovemaker Careplus Group Bhd has proposed a one-for-two bonus issue of 170 million new shares of 10 sen each to reward existing shareholders.
“The board of is of the view that the proposed bonus issue of shares is the most appropriate avenue of rewarding the existing shareholders of the company while at the same time enhance the company’s capital base,” said Careplus (fundamental: 0.6; valuation: 1.5) in a filing with Bursa Malaysia today.
The company added that the corporate exercise should encourage better trading liquidity of Careplus shares on the local bourse and greater participation by investors as well as potentially broadening the shareholder base of the company.
The entitlement date will be determined and announced at a later date after all the relevant approvals for the proposed bonus issue have been obtained.
The corporate exercise is expected to be completed by the second quarter of this year.
Careplus shares closed up 1 sen or 1.87% at 54.5 sen today, giving it a market capitalisation of RM128.08 million.
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