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KUALA LUMPUR (March 30): Farlim Group Bhd has proposed a 1-for-5 bonus issue involving up to 28.07 million shares to reward shareholders while enhancing its marketability and trading liquidity.
In a filing with the exchange, Farlim said as at March 27, 2018, being the latest practicable date (LPD), it has 140.33 million shares in issue, and after the proposed bonus issue, the enlarged number of issued shares would amount to 168.39 million shares.
“For illustrative purposes, based on the five-day volume weighted average price of Farlim shares up to and including the LPD of 48 sen, the theoretical ex-bonus share price of the shares is 40 sen.”
Barring unforeseen circumstances and subject to approvals, the proposed bonus issue is expected to be completed by the third quarter of 2018. The entitlement date for the proposed exercise will be determined later.
Farlim closed yesterday unchanged at 48 sen for a market capitalisation of RM67.36 million. — theedgemarkets.com
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