KUALA LUMPUR (Oct 6): Dufu Technology Corp Bhd plans to consolidate two shares of 50 sen each into one share of RM1 to improve its capital structure by the fourth quarter of 2016. It also plans to establish an executives' share option scheme (ESOS) of up to 15% of its issued and paid-up share capital, and to increase its share capital to RM200 million comprising 200 million consolidated shares from RM100 million of 200 million shares now. For illustration purposes, its 175.5 million existing shares will be consolidated into 87.7 million consolidated shares, of which 3.6 million consolidated shares will be held as treasury shares. Dufu said the proposed share consolidation could potentially reduce any future volatility of the trading market due to the reduced availability of shares in public. Its share price, as at LPD, was 61 sen, and may theoretically become RM1.22 after the proposed corporate exercise.

Source: The Edge Markets October 06, 2016 12:11 UTC