News
Notice of Entitlement for Cash Distribution
BackNov 28, 2005
| General Announcement Reference No BM-051128-50227 |
| Company Name | : | BURSA MALAYSIA BERHAD |
| Stock Name | : | BURSA |
| Date Announced | : | 28/11/2005 |
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| Type | : | Announcement |
| Subject | : | Notice of Entitlement for Cash Distribution |
Contents :
We refer to the announcement dated 10 November 2005.
On 28 November 2005, the High Court of Malaya has by an order confirmed the special resolution of Bursa Malaysia Berhad ("Bursa" or "the Company") for the reduction of RM416,000,000 of the issued and paid-up capital of Bursa ("Capital Reduction") under Section 64 of the Companies Act, 1965 by the cancellation of all 832,000,000 ordinary shares of RM0.50 each ("Bonus Shares") to be issued. The credit of RM416,000,000 arising from the Capital Reduction shall be applied by distributing cash to the shareholders of the Company ("Cash Distribution").
The entitlement date for the Cash Distribution shall be on 15 December 2005 ("Entitlement Date"). Shareholders of the Company will only be entitled to the Cash Distribution ("entitled shareholders") in respect of:
(a) securities transferred into their securities account before 4.00 p.m. on the Entitlement Date for transfers; and
(b) securities bought on Bursa Malaysia Securities Berhad ("Bursa Securities") on a cum entitlement basis according to the Rules of Bursa Securities.
The entitled shareholders will receive approximately RM0.81 for every one (1) ordinary share of RM0.50 each held in Bursa. The Company will send the cheques for the Cash Distribution by ordinary post to the entitled shareholders on 29 December 2005.
The total issued and paid-up share capital of the Company as at 28 November 2005 is RM256,508,300 divided into 513,016,600 ordinary shares of RM0.50 each ("Bursa Shares"), and shall remain the same until the Entitlement Date. No further options will be exercised into Bursa Shares under the Employees' Share Option Scheme of Bursa until after the Entitlement Date.
After determining the entitled shareholders, Bursa will:
(a) allot and issue all the Bonus Shares to the entitled shareholders by capitalising a sum of RM416,000,000 from its share premium account. This will increase the issued and paid-up share capital of Bursa from RM256,508,300 comprising 513,016,600 Bursa Shares to RM672,508,300 comprising 1,345,016,600 Bursa Shares; and
(b) implement the Capital Reduction to reduce the enlarged issued and paid-up share capital of Bursa of RM672,508,300 comprising 1,345,016,600 Bursa Shares to RM256,508,300 comprising 513,016,600 Bursa Shares. The Capital Reduction will be implemented pursuant to Section 64 of the Companies Act, 1965 by the cancellation of the Bonus Shares giving rise to a credit of RM416,000,000 for the Cash Distribution.
Since the Bonus Shares will be immediately cancelled under the Capital Reduction, no Bonus Shares will be credited to the individual securities accounts of the entitled shareholders. In addition, the Cash Distribution does not affect the number of ordinary shares held by all the shareholders of the Company as at the Entitlement Date. Trading of Bursa Shares WILL NOT be suspended for the purpose of the Cash Distribution.
This announcement is dated 28 November 2005.