Suria Capital Holdings Berhad (“Suria”) is pleased to announce that its shareholders have approved for the Company to undertake a bonus issue up to 58,278,398 new ordinary shares in Suria on the basis of 1 bonus share for every 5 existing Suria shares held on the entitlement date which will be determined and announced at a later date upon receipt of all relevant approvals for the bonus issue.
With this exercise, the ordinary share capital is expected to increase from 288,183,992 shares pre-bonus to 349,670,390 shares post bonus period. The actual number of the new bonus shares will be based on the number of Suria shares in issue on the entitlement date.
The shareholders’ approval for the bonus issue was given during the Company’s Extraordinary General Meeting held on 10 January 2019 at its subsidiary office of Sabah Ports Sdn Bhd at Wisma SabahPorts, Teluk Sapangar.
SuriaGroup had on 12 November 2018 announced its unaudited 9-month 2018 results with a turnover income of RM315.0 million, an increase of 45% or RM97.0 million year-on-year. This marked a net profit of RM45.0 million for the said 9-month period of 2018. The port segment, as the core business had contributed significantly to the solid performance.
The issuance of the bonus share will enable Suria’s shareholders to have greater participation in the Company’s equity whilst maintaining their percentage of equity interest in the Company. It is also expected to improve the trading liquidity of Suria shares and utilize the amount standing to the credit of its share premium account as provided for under Section 618(3) of the Companies Act 2016 following the implementation of the no par value regime.
The Board had decided on the bonus issuance in the best interest of the Company and the shareholders and expresses it appreciation to the shareholders for voting in favor of the resolution for the bonus issue.