PETALING JAYA: Permaju Industries Bhd
has proposed a capital reduction of up to RM258mil via the cancellation of its issued share capital “which is lost and unrepresented by available assets”.
The company said the RM258mil credit from the cancellation will offset its accumulated losses.
It said in a filing with Bursa Malaysia that any remaining balance will be credited to the company’s retained earnings and used as deemed fit by its board.
As of Dec 10, 2024, Permaju Industries reported an issued share capital of RM446.51mil comprising 1.96 billion ordinary shares, 739.33 million irredeemable convertible preference shares and 93.54 million outstanding warrants.
“As of the latest practicable date, the firm does not hold any treasury shares, and there are no outstanding employee’s share options that have been granted but are yet to be exercised,” it stated.
