KUALA LUMPUR: Resintech Bhd has proposed a bonus subject of as much as 50.3 million new bizarre shares on the idea of 1 bonus share for each three current Resintech shares.
The built-in supplier of polyethylene merchandise and unplasticized polyvinyl chloride (uPVC) additionally proposed a bonus subject of as much as 100.61 million free warrants on the idea of 1 warrant for each two current Resintech shares.
In an announcement, Resintech stated the entitlement date for the bonus subject of recent bizarre shares might be decided and introduced later whereas the entitlement date for the bonus subject of free warrants might be decided and introduced later by the Board primarily based on the names of shareholders showing within the firm’s report of securities holders.
The bonus shares might be entitled to the bonus warrants because the proposed subject of warrants might be applied following the completion of the proposed bonus subject of shares.
“The proposed bonus subject of shares and warrants is to reward shareholders as the rise within the variety of shares come without charge to current shareholders whereas the warrants allow them to take part within the spinoff of the corporate’s shares without charge and on the similar time present them with a chance to extend their fairness participation by exercising their warrants,” managing director Datuk Dr Teh Kim Poo stated.
“The bonus share subject can even enhance buying and selling liquidity of Resintech shares by rising the variety of shares issued whereas the warrants will strengthen the corporate’s capital base and shareholders’ funds as and when they’re exercised,” he added.