Friday, 20 April 2012

Ta Ann gains on share dividend

KUALA LUMPUR (April 20) : Timber firm TA ANN HOLDINGS BHD [] climbed as much as 3.7% as investors chased the stock to capitalise on its proposed share dividend.

Shares of Ta Ann added 24 sen to RM6.74 before settling lower at RM6.65 at lunch break on Friday.

Ta Ann plans to undertake a bonus share issue on the basis of one bonus unit for every five existing shares in the company. It said the exercise, to be completed by the second quarter of this year, will involve up to 61.8 million new shares, hence, an expanded issued base for the company upon completion.

Ta Ann had cash of RM180.44 million as at December 31 last year against debt obligations of RM449.44 million, translating into net debt of RM269 million.

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