Deleum proposes bonus issue, share split

KUALA LUMPUR: Oil and gas services provider Deleum Bhd has proposed a one-for three bonus issue and a share split.

It said on Tuesday the corporate exercise would involve a one-for-three bonus issue of 50 million new shares of RM1 each.

Deleum also proposed a one-into-two share split into two shares of 50 sen each.

"The proposed bonus issue and proposed share split will be implemented simultaneously with the bonus shares to be allotted and issued in the form of subdivided shares," it said.

Deleum group managing director Nan Yusri Nan Rahimy said the proposed bonus issue was to reward shareholders as the exercise would also enable them to have a "greater participation in the equity of the company in terms of number of shares held, whilst maintaining their percentage of equity interest".