Microlink Solutions proposes three-for-one bonus issue

Microlink Solutions proposes three-for-one bonus issue
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KUALA LUMPUR (June 10): Microlink Solutions Bhd has proposed to undertake a bonus issue on the basis of three bonus shares for every one existing ordinary share on an entitlement date to be determined later.

Microlink said in a bourse filing that the proposed bonus issue will involve the issuance of up to 863.98 million bonus shares.

Based on the three-month daily volume weighted average market price of Microlink shares up to and including the latest practicable date of RM2.55, the theoretical ex-bonus share price of Microlink shares will be approximately 63.67 sen, said the company.

It added that the exercise serves to reward its shareholders for their loyalty and continued support.

It also said the exercise will enable the existing shareholders to have greater participation in the equity of the company, and encourage trading liquidity and marketability of Microlink shares on ACE Market of Bursa Securities.

The proposed bonus issue is expected to be completed during the third quarter of 2021.

Microlink was unchanged at RM2.54 today, valuing the group at RM612.88 million.

Lam Jian Wyn