SHARE REDUCTION BY HICOM IN EON SHARE

Hicom recently request EON to reduce their share to RM168.164 million and EON board of directors have agreed with the proposal. Read full news from bernama below.

Edaran Otomobil Nasional Bhd (EON) board of directors has agreed, save for two directors, to table Hicom Holdings Bhd’s request for proposed selective capital reduction and repayment exercise for its shareholders.

 

The directors are Datuk Seri Mohd Khamil Jamil and Datuk Lukman Ibrahim, EON said in a filing to Bursa Malaysia Tuesday.

 

Hicom, DRB-Hicom Bhd’s wholly-owned subsidiary, had asked EON to undertake the proposed exercise which would result in Hicom becoming the sole shareholder of EON upon completion of the exercise.

 

It said the proposed exercise would result in the reduction of EON’s issued and paid-up share capital from RM248.993 million to RM168.164 million comprising 168,164,209 shares by way of cancelling a total of 80,828,614 shares.

 

Upon completion of the exercise, Hicom will hold 168,164,209 EON shares, representing the entire issued and paid-up share capital.