KUALA LUMPUR: Plantations-based TSH Resources Bhd has proposed a bonus issue of 451.91 million new shares on a one-for-two basis.
In its filing with Bursa Malaysia on Monday, the Sabah-based company said the bonus issue was to reward its existing shareholders and also enlarge the number of TSH shares without increasing the percentage of equity interest.
The enlarged share capital is envisaged to encourage trading liquidity of TSH shares on Bursa.
Its chairman Datuk Kelvin Tan said the company has a good track record in taking care of the interest of its shareholders and enhancing shareholder value.
"We undertook a bonus issue of one new share for one existing share three years ago in 2011 to reward our shareholders who stayed firmly committed to TSH's business growth.
"We are proud to be proposing this one-for-two bonus issue and stay on course to continuously reward our shareholders with free shares and cash dividend in the long term," Tan said.The proposed bonus issue is subject to approvals from Bursa Malaysia and shareholders at an EGM to be convened.