KUALA LUMPUR (1 Apr): Resintech Berhad (Bursa: RESINTC, 7232), a fully integrated provider of polyethylene products and unplasticized polyvinyl chloride (uPVC), has today proposed a bonus issue of up to 50,308,463 new ordinary shares on the basis of 1 bonus share for every 3 existing Resintech shares as well as a proposed bonus issue of up to 100,616,926 free warrants on the basis of 1 warrant for every 2 existing Resintech shares.
The entitlement date for the bonus issue of new ordinary shares will be determined and announced later by Resintech’s Board of Directors while the entitlement date for the bonus issue of free warrants will be determined and announced later by the Board based on the names of shareholders appearing in the Company's record of securities holders.
The bonus shares will be entitled to the bonus warrants as the proposed issue of warrants will be implemented following the completion of the proposed bonus issue of shares.
Dato’ Dr. Teh Kim Poo, Managing Director of Resintech
“The bonus share issue will also improve trading liquidity of Resintech shares through increasing the number of shares issued while the warrants will strengthen the Company’s capital base and shareholders’ funds as and when they are exercised.”
Resintech recently signed a Memorandum of Understanding to acquire a 30% stake in Bionutricia Holding Sdn. Bhd. (Bionutricia) from the controlling shareholders for the sum of RM8.7 million.
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