Datasonic proposes one-for-one bonus issue

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KUALA LUMPUR (Aug 5): Datasonic Group Bhd announced its proposal for a one-for-one bonus issue to reward shareholders.

In a bourse filing, the company said that the proposed bonus issue entails the issuance of up to 2.18 billion bonus shares on the basis of one bonus share for every share held by shareholders whose names appear on its record of depositors as at the close of a to-be-confirmed entitlement date.

Kenanga Investment Bank is the principal adviser for the bonus issue, which is expected to be completed by the fourth quarter of this year.

In a separate statement, Datasonic non-executive chairman General (Rtd) Tan Sri Dr Mohamed Hashim Mohd Ali expressed his gratitude to its shareholders.

“The group believes that this is another avenue for us to reward our shareholders in addition to our quarterly dividends. The Proposed Bonus Issue is an expression of our appreciation towards the confidence and patience given to us while we grow our business. Additionally, it is expected to improve the liquidity of our shares and encourage greater participation by investors as well as potentially broadening the shareholder base,” he said.

Datasonic shares finished 4.17% or six sen higher at RM1.50, valuing it at some RM2.03 billion. It saw 43.14 million shares done.