KUALA LUMPUR (Jan 8): High precision plastic components manufacturer Ge-Shen Corporation Bhd said its controlling shareholders will try placing out some shares within six months, in order to comply with the public shareholding spread requirement.
Based on the Register of Depositors as at Dec 31, 2014, the public shareholding spread of Ge-Shen is 22.83%, which represents a shortfall of 2.17% from the minimum percentage of 25% of the total issued and paid-up share capital.
“The controlling shareholders of Ge-Shen will endeavour to place out their shares within six months, in order to comply with the public shareholding spread of 25%,” the company said in a filing to Bursa Malaysia today.
Meanwhile, Ge-Shen said it will apply to Bursa for an extension of six months, to rectify the short fall in the public shareholding spread.
The stock closed at 55.5 sen today, up 1.5 sen or 2.78%, with 10,000 shares traded. It had a market capitalisation of RM44.4 million.