Oiltek, a subsidiary of Koh Brothers Eco Engineering (SGX:5HV
) , says the bonus issue is to increase the issued share capital base to reflect the growth and expansion of its business and to reward and give due recognition to shareholders for their loyalty and continuing support for the company.
Oiltek International, which is shifting its listing from the Catalist to the Mainboard, plans to issue bonus shares at the ratio of two bonus shares for each existing share held.
This will bring the company's share base from 143 million shares to 429 million shares.
