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Bursa Malaysia obtains approval for bonus share issue

Bursa Malaysia Bhd. obtained regulatory approval to issue up to 269,799,000 bonus shares.

The shares will be issued on the basis of 1 bonus share for every 2 existing shares held on the entitlement date, which is expected to be in April. The listing and quotation of the bonus shares are also expected to take place in April.

The company said March 13 that under the minimum scenario, where none of the outstanding share grant plan shares as of Feb. 21 are vested on or prior to the entitlement date, 268,750,450 shares will be issued, comprising 33.3% of Bursa Malaysia's enlarged share capital.

In the event that 2,097,100 outstanding share grant plan shares as of Feb. 21 are vested on or prior to the entitlement date, 269,799,000 shares will be issued, also comprising 33.3% of the bourse operator's enlarged share capital.

The bonus shares will rank equally in all respects with existing company shares, except that they will not be entitled to any dividends, rights, allotments and other distributions that may be declared, made or paid prior to the date of allotment of the bonus shares.

The proposed issue will increase the number of shares held by existing shareholders while maintaining their percentage of shareholding, as well as raise the liquidity of the company's shares in the market and allow for greater participation by investors.

Maybank Investment Bank Bhd. is the principal adviser to Bursa Malaysia for the issue.