PETALING JAYA: Aldrich Resources Bhd
has proposed a four-for-one share consolidation, diversification of its business to include trading of mineral resources, and acquisition of the remaining 49% stake in TACS Group Sdn Bhd for RM5mil.
In a filing with Bursa Malaysia, the technology and business solution provider said the entitlement date for the proposed share consolidation would be determined and announced later, with shareholders receiving one consolidated share for every four existing shares held.
As of Aug 25, the issued share capital of the company is RM25.31mil comprising 1,113,459,590 shares. The group also does not have any treasury shares.
Aldrich stated that assuming none of the employees share option scheme (esos) options are granted and exercised prior to the share consolidation entitlement date, the existing issued shares of 1,113,459,590 will be consolidated into 278,364,897 shares. This is a minimum scenario.
Assuming 334,037,800 esos options are granted (pursuant to the maximum allowable allocation under the esos as at Aug 25, 2025) and exercised into 334,037,800 new shares prior to the share consolidation entitlement date, the enlarged issued shares of 1,447,497,390 shares will be consolidated into 361,874,347 consolidated shares.
Aldrich said there are no esos options which have been granted but not exercised as at Aug 25.
Last August, Aldrich proposed an esos of up to 30% of the total number of issued shares in the company. The proposed esos will be in force for five years from the effective date, Jan 2, 2025. The exercise price of the proposed esos will be based on the five-day volume weighted average market price of Aldrich shares immediately preceding the date of offer with a discount of not more than 10%.
Aldrich also intends to diversify into the trading of mineral resources. Currently, the group’s businesses cover corporate secretarial, management consultancy, taxation, accountancy, advisory and share registration services as well as computerised maintenance management systems, trading of mineral resources, and money lending.
The group added the proposed diversification will be undertaken through Aldrich Minerals, a wholly-owned subsidiary of the company in managing the trading of mineral resources and related activities.
Aldrich said the proposed diversification is in line with the company’s objective to expand its revenue stream by diversifying into the trading of mineral resources business to enhance the shareholders’ value in the long term.
The board expects the profit from the trading of mineral resources business to contribute 25% or more of the group’s net profit.
Aldrich will be taking over TACS Group by acquiring the remaining shares it does not already own from Premier Prospect Sdn Bhd for RM5mil. The initial acquisition of the 51% equity interest in TACS Group was completed on Sept 24, 2024.
