Group on track to complete exercise by end-4Q12
Kuala Lumpur, Malaysia, 10 October 2012 – Malaysia’s leading ICT distributor ECS ICT Berhad (ECS, 佳杰科技; Bloomberg: ECS MK; Reuters: ECSI.KL) has gotten shareholders’ approval at an Extraordinary General Meeting (EGM) held today to undertake a 1-for-2 Bonus Issue.
The corporate exercise, which involves the issuance of 60 million new ordinary shares of RM0.50 par on a one bonus share for every two existing shares basis, has already been given the green light by Bursa Malaysia Securities Berhad on 13 September 2012.
Following the completion of the Bonus Issue, ECS’ share capital will increase to RM90.0 million, comprising 180 million shares of RM0.50 par, from RM60.0 million, comprising 120 million shares of RM0.50 par previously.
“We are very pleased that our shareholders have given their consent to this corporate exercise. Not only does the Bonus Issue reward our shareholders for the support, it also allows ECS to keep in step with the Group’s current level of operations.
The move will also improve the trading liquidity and marketability of our shares on the market.
We remain on track to complete the Bonus Issue by the end of the fourth quarter of our financial year.”
Mr. Foo Sen Chin (胡善正)
Managing Director, ECS ICT Berhad
Maybank Investment Bank is the appointed advisor for the corporate exercise.
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
Mr. Timothy Cheok
timothy@aquilas.com.my
Tel: +603 2711 1391 / +6012-205 1712
