Breaking News! RS to Propose 4.26% Capital Reduction, Skyrocketing “EPS”
RS has announced that it will propose to the Boards for Registration of paid-up capital reduction by writing off the repurchased registered shares
Regarding the resolution of RS Public Company Limited (RS)’s Board of Directors held on February 21, 2018, to approve share repurchasing for financial management purposes of 43,273,300 shares or equal to 4.26% of the total of paid up shares (1,015,767,498 shares) during March 8, 2018 to May 30, 2019. After the end of resale period, RS still has an unsold of 43,273,300 repurchased shares.
Today, May 30, 2019, RS has announced that it will propose agenda to the meeting of the Board of Directors for approval Registration of paid-up capital reduction by writing off the repurchased registered shares to the Department of Business Development, Ministry of Commerce.
The capital reduction could benefit the company and shareholders as the shares have been reduced, so does the divisor, which will result in higher EPS if RS could at least maintain its net profit at the same level while the EPS could go higher if RS makes higher profit.
