TIME Dotcom Bhd
is proposing to return 50 sen cash a share or a total of RM1.265bil to its shareholders at a date to be determined later.
Time dotCom said in a statement the funds for the capital return would come from the proceeds of the sale of its cellular unit TimeCel Sdn Bhd to Maxis Communications Bhd. To facilitate the capital repayment, it is proposing to reduce its share premium reserves by RM1.265bil.
