KUALA LUMPUR: Kerjaya Prospek Group Bhd has proposed to undertake a bonus issue of up to 677,437,658 new shares in the company on the basis of six (6) bonus shares for every five (5) existing Kerjaya shares held.

The Group also proposed a bonus issue of up to 169,359,414 new warrants in Kerjaya Prospek, on the basis of six (6) bonus warrants for every twenty (20) existing Kerjaya shares held on the same entitlement date as the proposed bonus issue.

The date of the entitlement will be determined by the Group later, the company said in a Bursa Malaysia filing yesterday.

Upon completion of the proposals, the enlarged share capital of Kerjaya Prospek on a fully diluted basis will amount to 1,411,328,454 ordinary shares.

The issuances are intended to reward Kerjaya’s shareholders and allow them to have greater participation in the equity of Kerjaya in terms of numbers of shares while retaining their percentage of equity interest held.

Additionally, the exercise is also expected to improve the trading liquidity and marketability of Kerjaya Prospek shares on the Main Market of Bursa Securities whilst increasing the capital base of the Company.

To recap, Kerjaya recently announced their highest ever 9-month performance delivering a revenue of RM703.4 million and profit after tax of RM97.1 million.

In addition to the record results, the Group’s balance sheet remained robust, boasting a net cash position of RM163.0 million and current ratio stood at 1.87x.

The Group’s current outstanding orderbook amounted to RM3.2 billion and year-to-date win for year 2017 contract totalled to RM1.4 billion.

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