Casino slot machine and table games maker RGB International Bhd plans to issue just over 194.6 million bonus shares “to reward the existing shareholders of the company for their continued support to RGB and its subsidiaries,” the group said in a filing to Bursa Malaysia.
The exercise would be done with help from Affin Hwang Investment Bank Bhd, and would be on the basis of one bonus share for every seven existing RGB shares held on the entitlement date.
The announcement stated the plan, once effected, would occasion a “corresponding dilution in the earnings per share of the RGB group” for the financial year ending December 2018.
The filing said that as of June 20, the company had just over 1.34 billion shares issued and 17.6 million units outstanding under its employee share option scheme.
The document added the exercise would “enable the existing shareholders to have greater participation in the equity of the company in terms of the number of RGB shares held, whilst maintaining their percentage of equity interest”.
The proposed bonus issue “is expected to enhance the marketability and trading liquidity of RGB shares” on Bursa Malaysia, it added.
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”I would expect that there might be some clearly-defined criteria … and I’m supportive of a more clearly-defined roadmap for the [gaming] industry”
Co-chairperson and executive director of Macau casino operator MGM China