KUALA LUMPUR: Pan Malaysian Industries Bhd (PMI), a member of the Malayan United Industries Bhd (MUI) group, has proposed a capital restructuring scheme comprising a capital reduction scheme and rights issue.
Under the capital reduction scheme, the par value of PMI shares will be reduced to 5 sen from 50 sen and two 5 sen shares will be consolidated into one 10 sen share, bringing down PMI's share capital from 2.48 billion shares of 5 sen each to 1.24 billion shares of 10 sen each. The value of the share capital would remain at RM124mil.