Friday, 30 March 2018
Kumpulan Perangsang Selangor Berhad proposes 1-for-13 Bonus Issue and Final Dividend
- Bonus Issue to reward shareholders and allow greater shareholders participation in the equity of the Group
- Final dividend of 4.25 sen per share in respect of FY2017
Kuala Lumpur, Malaysia, 30 March 2018 – Diversified group Kumpulan Perangsang Selangor Berhad (KPS, Bursa: 5843; Bloomberg: KUPS:MK; Reuters: KPSB.KL) today proposed to undertake a Bonus Issue on the basis of one (1) Bonus Share for every thirteen (13) existing Shares held by shareholders.
This corporate exercise will see an issuance of up to 38.4 million new ordinary shares. The proposed Bonus Issue is expected to increase KPS’ share base from 499.0 million currently to 537.4 million.
KPS’ Chief Executive Officer Ahmad Fariz Hassan said:
“The larger capital base is intended to reflect our expanded scale of operations after our Business Transformation Plan. Today KPS’ portfolio comprises industry-leading players with proven expertise and competitive advantage in the manufacturing, trading and infrastructure segments, thus enabling us to ensure sustainable growth going forward.
This corporate exercise fulfils twin objectives of rewarding shareholders for their unwavering support, while creating a larger base to enable the wider investing community to participate in our growth story.
At the same time, the Board intends to maintain the practice of distributing annual dividends to shareholders, in line with our value creation policy. We trust that shareholders would continue to journey with us as KPS aspires to be a growth-centric conglomerate.”
The proposed Bonus Issue will be subjected to the approval of Bursa Malaysia Securities Berhad, relevant authorities or parties, and the shareholders of the Company at the Extraordinary General Meeting to be convened.
The proposed 1-for-13 Bonus Issue is targeted for completion in the second quarter of 2018.
The Board of KPS also proposed a final dividend of 4.25 sen per share in respect of the financial year ended 31 December 2017 (FY2017), subject to approval at the upcoming Annual General Meeting. The proposed final dividend of 4.25 sen per share or RM22.8 million payout, makes up 36.2% of the Group’s FY2017 net profit.
The Group has consistently distributed dividend payments (net of tax) of between 2.0 sen and 4.25 sen per share each year since 2006, with the exception of 2013 where a special dividend of 25.6 sen was paid, post disposal of assets.
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About Kumpulan Perangsang Selangor Berhad (www.kps.com.my)
Incorporated in August 1975, Kumpulan Perangsang Selangor Berhad (“KPS” or the “Company”) is a public limited liability company listed on the Main Market of Bursa Malaysia Securities Berhad. The Company has a varied investment portfolio with assets involved in Manufacturing, Trading, Licensing, Infrastructure and Utility, Oil and Gas as well as Telecommunications. KPS is committed towards making significant contributions to human capital, intellectual, and sustainable developments, whilst strengthening its core businesses to optimise returns for its shareholders.
Issued for and on behalf of KUMPULAN PERANGSANG SELANGOR BERHAD by Aquilas Advisory (Malaysia) Sdn Bhd. For media enquiries, please contact:
