Kuala Lumpur, 15 March 2012
Deleum Berhad (“Deleum” or the “Group”), provider of diverse range of specialised products and services in the oil and gas industry, has proposed a one-for-two bonus issue of 50,000,000 new ordinary shares of RM1.00 each (“Proposed Bonus Issue”). The Proposed Bonus Issue will be capitalised from the retained earnings of Deleum.
Deleum Group Managing Director, Encik Nan Yusri said, “Subject to approval, our one-for-two bonus issue will be a good reward to shareholders in addition to our second interim dividend payment of 9.0 sen per ordinary share, which was recently declared in respect of our financial year ended 31 December 2011 (“FY2011”). It shows that Deleum is committed to create value for our shareholders and reward them for their loyalty and continuous support towards the Group.”
“Additionally, this exercise will further increase our capital base to a level that will better reflect our current scale of operations and assets employed. With the increase number of shares in issue, this exercise is expected to promote liquidity of our shares in the market,” Encik Nan Yusri commented.
The Proposed Bonus Issue would result in the issued and paid-up capital of Deleum increasing from the existing 100,000,000 shares to 150,000,000 shares of RM1.00 each.
Deleum’s total payout dividend for FY2011 was 14.0 sen per ordinary share compared to 11.5 sen per ordinary share for the previous year. Deleum had declared a first interim single tier dividend of 5 sen per share which was paid on 21 September 2011 and a second interim dividend of 9.0 sen single tier dividend per ordinary share payable to the shareholders on 23 March 2012, in respect of FY2011.
As announced on the 22 February 2012, Deleum posted a 22 per cent increase in Group pre-tax profit for FY2011, from RM37.60 million to RM45.71 million, despite a slight decline in Group revenue from RM399.05 million (in FY2010) to RM396.30 million.
Describing the oil and gas industry as exciting and volatile, Encik Nan Yusri expressed that FY2011 results demonstrated the resilience and long term sustainability of Deleum’s performance in the industry. “We are truly heartened to see our hard work, commitment and consolidation of our resources continue to pay off and thus enhancing stakeholders’ value in the process,” Encik Nan Yusri added.