Milux proposes three-for-one bonus issue

KUALA LUMPUR: Home and kitchen appliances manufacturer Milux Corporation Bhd has proposed a three-for-one bonus issue of up to 176.29 million new bonus shares to reward its shareholders.

It said on Monday with Jan 15 being the latest practicable date prior to the date of this announcement, its share capital was RM59.06mil comprising 58.76 million shares.

Upon completion of the corporate exercise, Milux’s issued share capital would be RM59.06mil, comprising 235.05 million shares.

It said its share price adjusted for the bonus issue must not be below 50 sen based on the daily volume weighted average market price (VWAP) during the three-month period before the application date.

Based on the five-day and three-month VWAP of its shares up to the LPD, of RM2.1938 and RM2.2346 per share, the theoretical ex-bonus share price of Milux shares are 54.85 sen and 55.87 sen respectively.

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