Unisem proposed Bonus Issue
Filed Under (Business News) by Webmaster on 06-05-2010
Tagged Under : bonus, Unisem
Unisem (M) Bhd has proposed to undertake a bonus issue, renounceable rights issue of warrants and an employees share option scheme (ESOS).
In a filing to Bursa Malaysia, Unisem said the bonus issue would involve 155,575,704 new ordinary shares of 50 sen each on the basis of three bonus shares for every ten existing ordinary shares.
“The proposed bonus will increase the issued and paid-up capital to a level which will be more reflective of its existing scale of operations and assets employed.
“It is also expected to further improve liquidity and marketability of Unisem shares as a result as an increase in the number of shares available,” it said.
It said the rights issue of 168,540,346 warrants was on the basis of one new warrant for every four existing Unisem shares after the proposed bonus issue.
“The new warrants will enable the company to raise immediate gross proceeds from the issuance of the warrants for the working capital requirements and for the expenses involved in the proposals.
Unisem said the ESOS involved the issuance of up to 10 per cent of the issued and paid-up share capital. It would be for executive directors and executives of the company and subsidiaries.
The proposed bonus issue and rights issue of warrants were expected to be completed by third quarter of this year while ESOS was expected to be implemented by third quarter of this year, for a period of five years, it said.
As at Dec 31, 2009, Unisem’s issued and paid-up share stood at RM258.3 million comprising 518,585,679 shares.
