On behalf of the Board of Directors of PIB, RHB Investment Bank Berhad wishes to announce that the Company proposes to undertake the following proposals:-
i. a share split involving the subdivision of every one (1) existing PIB Share into five (5) Split Shares; and
ii. amendments to the Memorandum of Association of PIB.
SUBDIVISION / CONSOLIDATION OF SHARES (CHAPTER 13 OF LISTING REQUIREMENTS) P.I.E. INDUSTRIAL BERHAD ("PIB" OR THE "COMPANY") I. PROPOSED SHARE SPLIT INVOLVING THE SUBDIVISION OF EVERY ONE (1) EXISTING ORDINARY SHARE OF RM1.00 EACH IN PIB ("PIB SHARE(S)" OR "SHARE(S)") INTO FIVE (5) ORDINARY SHARES OF RM0.20 EACH IN PIB ("SPLIT SHARE(S)") ("PROPOSED SHARE SPLIT"); AND II. PROPOSED AMENDMENTS TO THE MA.
Please be informed that the Board of Directors of PIE has on even date, proposed the following dividends for the year ended December 31, 2015 to be approved by the shareholders at the forthcoming 19th Annual General Meeting of the Company:-
1) A Special Single Tier Dividend of 23 sen per share; and
2) A First and Final Single Tier Dividend of 12 sen per share.
However, the entitlement date and date of payment of the dividends have yet to be finalized at the moment.
On behalf of the Board of Directors of PIB, RHBIB wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") had, vide its letter dated 9 May 2016, resolved to approve the Proposed Share Split.
Price drop 5 times but your share amount increase 5 times. Total share in the market will be 380 millions after share split. Liquidity increase, just exactly like what happened to VS industry last year.
The profit before tax was decreased by RM9.756 million or 79%, which was mainly due to losses from foreign currency exchange transactions, higher operating expenses and lower proceed from scrap sales. However, PIE is still a cash rich company and will give 35cent of dividend on 1/6/2016. But anyway this is the worst QR ever for PIE since 2006. We will see how the share price respond on next trading day (monday).
This is a knee jerk reaction to the poor quarterly results mainly due to losses on the foreign currency exchange transactions. Cash flow from operations remains stable. Chance to pick up the stock at a bargain now.
Earnings still resilient; with better liquidity coming on board. Recall that the group has secured a new European customer recently which is a global player in the industrial electronic industry. Although earnings contribution from this customer is immaterial at this juncture, we gather that more orders are likely going forward which could turn it into a major customer for PIE. With the group’s recent major transformation (with the additional production line on fully automated plastic injection moulding, CNC centre as well as new metal stamping division), we expect more orders being secured which support our conservative 2-year NP CAGR of 12%. Meanwhile, the group has also proposed a 5-for-1 share split recently (to be completed by 3Q16) which will eventually increase its share base from 76.8m to 384.0m shares. We laud this strategic move as it will: (i) make PIE shares more affordable to investors, and (ii) improve the marketability and trading liquidity of the stock. - Kenanga Research
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
patricksim53
144 posts
Posted by patricksim53 > 2016-03-10 11:15 | Report Abuse
From RM7 at the time of bonus issue to RM11 is quite an achievement. If it can repeat its performance, then RM15 is not impossible.