Exercise targeted at rewarding existing shareholders and improving trading marketability with larger share capital base
Kuala Lumpur, Malaysia, 10 September 2012 – Malaysia’s leading ICT distributor ECS ICT Berhad (ECS, 佳杰科技; Bloomberg: ECS MK; Reuters: ECSI.KL) today proposed to undertake a Bonus Issue on the basis of one bonus share for every two existing shares held by shareholders.
The 1-for-2 Bonus Issue entails the issuance of 60 million new ordinary shares of RM0.50 par. This would result in the Group’s share capital increasing from RM60.0 million comprising 120 million shares of RM0.50 par, to RM90.0 million comprising 180 million shares of RM0.50 par.
“We believe that this corporate exercise is in tandem with the Group’s current scale of operations, and would improve the trading liquidity and marketability of our shares.
Also this proposed issue would allow us to reward our shareholders for their continuous support and loyalty through greater participation in the equity of the Group.”
Mr. Foo Sen Chin (胡善正)
Managing Director, ECS ICT Berhad
The proposed Bonus Issue will be subject to the approval of Bursa Securities, relevant authorities or parties, and the shareholders of the Group at an extraordinary general meeting that will be announced on a later date.
The proposed 1-for-2 Bonus Issue is targeted for completion by the fourth quarter of 2012.
Maybank Investment Bank is the appointed adviser for the Group’s corporate exercise.
“The ICT industry is anticipated to remain robust in 2012, with the continuous rollout of innovative products to meet the increasing demand from end-users. Being the leading ICT distributor in Malaysia, we are poised to benefit from this growth momentum,” concluded Foo.
ABOUT ECS ICT BERHAD
ECS ICT Berhad (ECS), an MSC-status company, and its group of subsidiaries started in 1985 with the establishment of ECS KU Sdn Bhd. Today, the Group is a leading distribution hub for Information & Communications Technology (ICT) products in Malaysia via ECS ASTAR Sdn. Bhd. and ECS PERICOMP Sdn. Bhd.
Listed on the Main Market of Bursa Malaysia Securities Berhad on 15 April 2010, ECS is an associate company of ECS Holdings Limited, a Singapore Exchange main board company which is one of the leading ICT distributors in Asia Pacific, accessing to a network of more than 23,000 channel partners across China, Thailand, Malaysia, Singapore, Indonesia and the Philippines.
ECS distributes a comprehensive range of ICT products comprising notebooks, personal computers, smartphones, tablets, printers, software, network and communication infrastructure, servers, and enterprise software from more than 30 leading principals.
With a nationwide channel network of more than 3,000 resellers comprising retailers, system integrators and corporate dealers, ECS also provides value-added product support and technical services. For more information, please visit www.ecsm.com.my
Issued for and on behalf of ECS ICT BERHAD by Aquilas Advisory (Malaysia) Sdn Bhd.
For media enquiries, please contact:
Ms. Julia Pong
julia@aquilas.com.my
Tel: +603 2711 1391 / +6012-390 9258
Ms. Caren Lwee
carenlwee@ecsm.com.my
Tel: +603 6286 8222 / +6012-626 6855
