PDZ Holdings proposes RM65.4mil capital reduction
KUALA LUMPUR: PDZ Holdings Bhd (PDZ) has proposed a capital reduction exercise to cancel RM65.4 million of its issued share capital to set off against the company's accumulated losses.
KUALA LUMPUR: PDZ Holdings Bhd has put forward a plan to cut RM65.4 million from its issued share capital. The company aims to better reflect the value of its assets and improve its financial standing. This move is expected to boost its credibility among bankers, suppliers, customers, and investors. As of August 17, PDZ's issued share capital is RM158.57 million, made up of 588.37 million ordinary shares.
After the reduction, it will drop to RM93.17 million, with the same number of shares remaining in issue. The capital reduction will also change PDZ's accumulated losses from RM65.46 million to a small profit of RM9.1 million. The plan requires shareholder approval at an extra meeting and is planned for completion in the first quarter of 2027.
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