Puncak Niaga says RM1 special dividend to be paid on Dec 23

Puncak Niaga

KUALA LUMPUR: Puncak Niaga Holdings Bhd, which will receive RM1.6bil cash from the sale of its water-related assets in Selangor, will pay out the special dividend of RM1 to the shareholders on Dec 23.

Puncak, which is venturing into oil and gas, said on Monday the shareholders names had to appear in records at as Dec 8. The ex date was Dec 4.

It said holders of its existing warrants 2013/2018 should subscribe for the new Puncak shares on or before Nov 25.

Puncak said this was to enable the new shares arising from the exercise to be allotted to the warrant holders by the Dec 8 deadline.

To recap, the board had previously committed to paying out a special dividend per share of RM1 per share, which would amount to a maximum distribution of RM534mil. 

Puncak Niaga’s major shareholder, Tan Sri Rozali Ismail stands to reap a whopping RM167.42mil from the 40.25% interest he has in the stock.  Other substantial shareholders are Lembaga Tabung Haji with 9.64%, the Employees Provident Fund board has 5.05%.