TIME DotCom Experiences Falling Impact After Ex-Bonus Stock Issue

 TIME dotCom Bhd's share price fell as much as eight cents, or 1.67%, to RM4.71 in today's trading session on Bursa Malaysia from its closing price of RM4.79 overnight.

As of 10.40 am, TIME dotCom shares had shrunk at RM4.72 with a total of 74,400 shares traded so far.

The corporate exercise involves the issuance of a bonus of 1.21 billion new shares in the company based on two bonus units of shares as announced on March 16, 2021.

This statement was issued on May 27, 2021, following a circular letter from the shareholders of TIME dotCom regarding the issuance of bonuses reserved by the company.

The group's share price is based on the closing ex-bonus share price which was adjusted at RM4.79 versus RM14.38 overnight.

The ex-bonus closing price of RM4.79 was also obtained after dividing the closing share price of around RM14.38 with three company shares after calculating the bonus issue of two for one.

TIME dotCom hopes that the bonus issue as reserved will not have a significant impact on pooled earnings for December 31, 2021.

He also predicts that the number of issued shares is likely to increase by around 1.82 billion units after the completion of the bonus issue from 604.71 million units on April 30, 2021.

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