The national carrier proposed for its issued and paid-up capital be reduced to RM1.16 billion comprising 11.59 billion ordinary shares from RM1.67 billion comprising 16.71 billion ordinary shares.
“The airline’s share premium account is also being reduced to RM865.59 million from RM1.74 billion,” it said in a filing to Bursa Malaysia here Wednesday.
MAS said the selective capital reduction and repayment (SCR) offer price of 27 sen represented a premium ranging between 6.4 sen and 12.6 sen to the fair value of between 14.4 sen and 20.6 sen per share.
“The proposed SCR offers an opportunity to the entitled shareholders to realise their investments at a premium over the past six months historical volume weighted average market price of MAS shares,” it added.
— BERNAMA
