KUALA LUMPUR (March 5): Globetronics Technology Bhd has proposed a one-to-two share spit, followed by a bonus issue on the basis of one bonus share for every six split Globetronics shares.

Presently, Globetronics’ issued share capital is RM155.75 million comprising 285.6 million shares, its bourse filing showed.

The proposals will increase Globetronics’ issued share capital to between RM179.55 million with 666.3 million shares, and RM205.99 million comprising 676.56 million shares, subject to whether its outstanding employees’ share option scheme (ESOS) options are implemented and exercised.

The exercises are expected to raise the marketability and liquidity of its shares, which has appreciated by 20% over the past year, the filing said. 

The bonus issue is also meant to reward existing shareholders, the electronic products manufacturer added.

Pending necessary approvals, Globetronics will announce the entitlement dates later. It expects the exercises to be completed by the second quarter of 2018.

Shares of Globetronics closed 26 sen or 4.49% lower at RM5.53 today, giving it a market capitalisation of RM1.58 billion.