Straits Vitality proposes share consolidation


KUALA LUMPUR: Straits Vitality Assets Bhd has proposed to consolidate each two current shares held into one consolidated share.

In a submitting with Bursa Malaysia, the oil bunkering participant mentioned the issued share capital of the group was RM138.84mil comprising 882.18 million shares as at March 25.

As well as, as at March 25, the corporate has 143.2 million excellent warrants 2017/2022 within the firm.

“Upon completion of the proposed share consolidation, the resultant issued share capital of Straits might be RM139.84mil comprising 441.09 million consolidated shares beneath the minimal situation, whereas the resultant issued share capital of straits might be roughly RM156.31mil comprising 512.69 million consolidated shares beneath the utmost situation,” it mentioned.

As at March 25, Straits had a complete of 882.18 million issued shares, and the final buying and selling value was closed at 14.5 sen per share.

“In view of the massive share base and low buying and selling value, the proposed share consolidation is anticipated to boost the corporate’s share capital construction by consolidating the present Straits shares, which can end in a discount within the variety of shares obtainable out there,” Straits mentioned.

It added that the consolidation would additionally result in a discount within the variety of shares obtainable out there and correspondingly, enhance the reference/ buying and selling costs of the shares. Accordingly, this will scale back the volatility of the buying and selling value of the shares.

“From a monetary assertion perspective, the proposed share consolidation is anticipated to extend internet asset per share of strits along with its subsidiaries with out affecting the full market worth of shares and share capital, and shareholders’ share shareholding within the firm.

“Premised on the above, the board considers the proposed share consolidation is in the very best curiosity of the corporate,” it mentioned.

,



Source link

Leave a Comment