Handal Resources Bhd has revised its proposed bonus issue from 20 million bonus shares on the basis of one bonus share for three rights shares subscribed, to 10 million shares on the basis of one bonus share for six rights shares subscribed.
In a filing to Bursa Malaysia today, Handal said it wanted to conserve the retained earnings for potential future dividend payments, while still rewarding shareholders who subscribed for the rights shares to participate in the bonus issue.
Meanwhile, its proposed renounceable rights issue of 60 million new ordinary shares together with 60 million new free detachable warrants, on the basis of two rights shares and two free warrants for every three existing ordinary shares remained unchanged.
It had also proposed to increase the group's authorised share capital from RM50 million to RM250 million comprising 500 million shares. -- Bernama
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