Ta Ann proposes bonus issue

Ta Ann Holdings Bhd has proposed to undertake bonus issue of up to 61,796,130 bonus shares of RM1 each to be credited as fully paid-up on the basis of one bonus share for every five existing shares held on the entitlement date.

In a filing to Bursa Malaysia, it said the proposed bonus issue would be implemented by capitalising up to RM61,796,130 from the company's retained earnings reserve.

"The entitlement date will be determined and announced at a later date.

"The proposed bonus issue is to reward shareholders of the company for their continuing support by enabling them to have greater participation in the equity of the company in terms of the increased number of shares held as well as enhance the marketability and liquidity of shares," it added.

The bonus issue is expected to be completed in the second quarter this year. -- Bernama