Central Industrial to undertake 4-for-5 bonus issue

PETALING JAYA: Central Industrial Corp Bhd (CICB) proposes to undertake a bonus issue of 40 million bonus shares on the basis of four bonus share for every five existing shares held to reward its existing shareholders.
In a filing with Bursa Malaysia, CICB said the proposed bonus issue aims to reward its shareholders for their loyalty and continuing support, by enabling them to have greater participation in the equity of the company in terms of the increased number of shares held while maintaining their percentage of equity interest.
"In addition, the proposed bonus issue will increase the number of CICB shares in issue, which may potentially improve the liquidity and marketability of CICB shares," it said.
Upon completion of the proposed bonus issue, CICB's share capital will remain at RM50 million while the number of issued shares in CICB will increase to 90 million.
It is expected to be completed by the third quarter of 2018.