Proposal of bonus shares to boost trading liquidity

ASL Marine (ASL SP) has proposed a bonus issue of shares in the proportion of 4 bonus shares for every 10 existing ordinary shares to improve trading liquidity of its shares. Under this proposal, up to a total of 120.6m bonus shares will be issued.

The exercise is conditional on approval being obtained from SGX for the listing of these bonus shares on the exchange.

Maintain HOLD, TP would be adjusted to S$0.69 (from S$0.96) on the enlarged share capital base.

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