At an Extraordinary General Meeting of PPB Group Berhad (“PPB”) held at Shangri-La Hotel, Kuala Lumpur this morning, shareholders of PPB approved a proposed bonus issue of up to 237,099,976 new ordinary shares in PPB (“Bonus Shares”) on the basis of one (1) bonus share for every five (5) existing PPB shares held (“Bonus Issue”).
The Bonus Issue will be implemented by capitalising up to RM237,099,976 from PPB’s retained earnings. The Bonus Issue will increase PPB’s share capital base and the number of PPB shares held by shareholders, and is expected to improve the marketability and trading liquidity of PPB shares on Bursa Securities.
The justification and effects of the Bonus Issue are disclosed on pages 3 and 4 of the Circular to Shareholders dated 22 June 2018.
The entitlement date for the Bonus Issue will be determined and announced later.