,“The increased number of MyEG shares in issue upon completion of the proposed bonus issue may encourage trading liquidity of MyEG shares on Bursa Securities, ” MyEG added. KUALA LUMPUR: MyEG Services Bhd has proposed to undertake a bonus share issuance and diversify into healthcare-related businesses. In an announcement to Bursa Malaysia yesterday, the company said it is proposing to issue 4.14 billion new shares on the basis of one bonus share for every one existing share held, on a yet to be determined entitlement date. “The proposed bonus issue serves to reward existing shareholders of MyEG for their continued support to MyEG by allowing them to participate more in the equity of the company in terms of the number of MyEG shares held, while maintaining their percentage equity interest in the company. “The increased number of MyEG shares in issue upon completion of the proposed bonus issue may encourage trading liquidity of MyEG shares on Bursa Securities, ” it added. In addition, the company announced its proposed diversification into healthcare-related businesses to expand the group’s revenue base. “The proposed diversification enables MyEG to leverage on its existing branding, online platforms or channels and user base to effectively reach out to the public and provide sought-after services particularly during the Covid-19 pandemic, ” it said. MyEG believes that the timely introduction of the relevant healthcare products and services, coupled with the increased demand for such products and services, would contribute positively to its financial performance moving forward. Meanwhile, the company had also proposed to amend its constitution to provide “greater clarity, enhance administrative efficiency as well as to remove any existing conditions, restrictions or limitations which may be the subject of prevailing exemptions prescribed by regulators arising from exceptional circumstances.” Barring any unforeseen circumstances and subject to all requisite approvals being obtained, MyEG said the proposed corporate exercises ware expected to be completed by the second quarter of 2021. MyEG’s shares rose two sen to close at RM1.99 yesterday.
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