KUALA LUMPUR (Oct 21): BHS Industries Bhd has proposed a special share dividend issue, a one-for-one bonus issue and a share split exercise.
In a statement to Bursa Malaysia, the printing company said the proposed special share dividend issue entailed the distribution of up to 3.4 million treasury shares, on the basis of two treasury shares for every 45 shares held in BHS.
Meanwhile, the proposed one-for-one bonus issue would result in the issuance of up to 80 million new shares.
Thereafter, the company will implement the proposed share split exercise, which will see each existing share of 50 sen par value, subdivided into two ordinary shares of 25 sen each.
According to BHS, the proposed special share dividend and bonus issue of shares are the “most appropriate avenue” of rewarding its existing shareholders.
The firm added the proposed share split is expected to enhance the marketability and trading liquidity of its shares, as a result of the increase in the number of shares in issue.