Financial News

3rd May 2017 - ViTrox proposes one-for-one bonus issue

KUALA LUMPUR: ViTrox Corp Bhd, a manufacturer of inspection machines for the semiconductor industry, is proposing a bonus issue of up to 236.31 million new shares to reward its shareholders.

In a filing with Bursa Malaysia yesterday, the company said the bonus issue will be credited as fully paid-up on the basis of one bonus share for every one existing ViTrox share (one for one), on an entitlement date to be fixed.

Subsequent to the bonus issue, ViTrox’s enlarged share capital could reach RM52.43 million comprising 472.61 million shares — from RM23.8 million now comprising 234.93 million shares — assuming that all outstanding employees’ share option schemes are fully exercised.

ViTrox also said the increased issued share capital would better reflect its current size and scale of operations and assets employed.

The group expects the corporate exercise to enhance the marketability and trading liquidity of ViTrox shares.

The proposal, according to ViTrox, is expected to be completed by the third quarter of this year.

ViTrox’s share price fell two sen or 0.35% to RM5.76 yesterday, giving it a market capitalisation of RM1.36 billion.

sourced from: The Edge Market