MYEG 0138 MY E.G. SERVICES BERHAD plans to distribute Agmo shares as dividend-in-specie to shareholders
KUALA LUMPUR (Dec 23): My EG Services Bhd plans to distribute its entire 25.8% equity interest in Agmo Holdings Bhd by way of dividend-in-specie to its shareholders.
In a filing with the local bourse, MyEG said the stake, comprising 84 million shares, is currently held via its wholly-owned MY EG Capital Sdn Bhd. On completion of the distribution, based on an entitlement date that is yet to be fixed, MYEG Capital will cease to be a major shareholder of Agmo.
The proposed dividend-in-specie is to reward shareholders by allowing them to hold shares directly in Agmo, instead of through the group, said MyEG.
“Shareholders will also be able to benefit directly from the future financial performance and distributions to be declared (if any) by Agmo,” said MyEG.
MyEG’s carrying amount of the investment in Agmo shares is RM72.7 million. Based on the group's financial statement for the nine months ended Sept 30 2022, it recognised an investment gain of RM61.9 million following the listing of Agmo on the ACE Market of Bursa Securities in August.
The proposed dividend-in-specie will be done in two tranches. The first tranche, involving 69.7 million shares, will be distributed once the voluntary moratorium on the sale, transfer or assignment of the shares — which MyEG undertook prior to Agmo's listing, in compliance with listing requirements — is uplifted on Feb 17, 2023.
The remaining 14.2 million Agmo shares, which are subject to the moratorium for another six months till Aug 17, 2023, will be distributed once the moratorium ends.
The first tranche will be distributed on the basis of 0.0093 Agmo share for every one MyEG share held.
The second tranche will be distributed on the basis of 0.0019 Agmo share for every one MyEG share held.
MyEG shares closed unchanged at 87 sen on Friday, giving the company a market capitalisation of RM6.51 billion.
http://www.theedgemarkets.com/node/649469
Singapore Investment
-
-
-
-
SBJUN24 GX24060A is 3.33%1 hour ago
-
-
A kind of mental issue3 hours ago
-
-
-
China’s going downhill?9 hours ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
No new investment for retirees1 day ago
-
-
-
-
-
The Story Behind Maybank2 days ago
-
-
-
-
-
-
-
Quick Update - scary correction3 days ago
-
-
Portfolio Update Apr 20243 days ago
-
-
Portfolio Summary for April 20243 days ago
-
Portfolio (April 30, 2024)3 days ago
-
Summary of April 20243 days ago
-
-
Month of April 20244 days ago
-
-
A Blast From the Past4 days ago
-
-
-
-
-
-
-
Weekly Market Outlook6 days ago
-
-
-
That Restless Night…1 week ago
-
-
-
-
-
-
-
-
-
-
-
Keyboarding Warriors1 week ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Banks and Miles Report – Mar 20243 weeks ago
-
-
-
2024 (Portfolio Update)4 weeks ago
-
-
-
-
1Q 2024 Investment Strategy Update4 weeks ago
-
-
-
-
Lentor Hills Residences5 weeks ago
-
Burnt out!5 weeks ago
-
-
-
Feb 2024 Expenditure5 weeks ago
-
-
Starting Our Second Property Cycle1 month ago
-
-
-
-
-
-
-
-
The Market Is A Scam!2 months ago
-
-
-
-
-
-
-
Options Trading Journal Jan 20242 months ago
-
-
-
-
-
-
-
End of 2023 Review4 months ago
-
-
Year 2023 DIYQuant Portfolio Performance Report4 months ago
-
Monthly Summary of November 20235 months ago
-
3 Simple Poker Strategies for Beginners5 months ago
-
Migration of website5 months ago
-
-
-
-
-
-
-
-
-
-
August 2023 Portfolio Updates7 months ago
-
-
-
-
Hello SP Group, I'm Back!10 months ago
-
-
-
-
A New Light11 months ago
-
-
-
-
-
-
-
Demoralized1 year ago
-
2022 Thoughts, Hello 2023!1 year ago
-
Series of Defaults for Maple Finance1 year ago
-
Takeaways from “Sea Change”1 year ago
-
-
Greed is Coming Back1 year ago
-
-
-
-
-
-
-
-
-
-
-
What is Overemployment1 year ago
-
-
-
-
-
-
-
-
-
-
-
Home
AGMO
articles
MYEG
MYEG 0138 MY E.G. SERVICES BERHAD plans to distribute Agmo shares as dividend-in-specie to shareholders