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VGI Global Media (SET:VGI) Shareholders Approve Stock Dividends at 1:1
Further Approve Changes VGI-W1 Exercise Price and Ratio to Enhance Liquidity for Investors
BANGKOK, Mar 13, 2015 - (ACN Newswire) - VGI Global Media PCL (SET:VGI) shareholders approved management proposals to pay stock dividends at the rate of 1 to 1, and cash dividends, for withholding tax purposes, at THB 0.011 per share, and to enhance the liquidity of VGI-W1, as sought by the investors, by adjusting the warrants exercise price to THB 7 per share and their exercise ratio to one for every two underlying shares.
Mr Marut Arthakaivalvatee, Chief Executive Officer of VGI, a leading provider of lifestyle media solutions, revealed the resolution adopted at the Extraordinary Shareholders' Meeting No 1/2015, held on 11 March 2015, of his company to distribute the second interim dividends in the form of stock dividends at 1:1 and cash dividends (for withholding tax purposes) at THB 0.11 per share.
One capital-increase share will be allotted for each underlying share held (or THB 0.10 per share, based on par value). Cash will be paid at THB 0.011 per share for the purposes of withholding tax as stipulated by law. The ex-dividend date will be 17 March 2015, and the distribution date 31 March 2015.
VGI's shareholders also approved the management's proposals that the exercise price and exercise ratio of the warrants issued for purchase of the shares issued for the first capital increase, or VGI-W1, be adjusted from one warrant per share at THB 14 per share to one warrant for every two shares at THB 7. The change will take effect on the ex-dividend date of 17 March.
"VGI stock is very popular among the investors, who see in it excellent growth potential. However, the gap between the demand level and the liquidity level has led to the company's decision to pay stock dividends. Meanwhile, impacts on the holders of VGI-W1 from the change in share amount will be cushioned by an adjustment of the exercise price and exercise ratio of the warrants," he said.
VGI's shareholders also endorsed a plan to raise the company's registered capital by THB 428,996,626.50, or from THB 428,996,626.50 to THB 857,993,253, to facilitate the proposed issuance of new capital-increase shares for distribution as stock dividends.
Contact:VGI Global Media PCL
Investor Relations Department
Tel: +66-2-273-8639; +66-2-273-8636
MasterMind Communications Co Ltd
Orn-arong ('Fah') Pattaravejkul
Tel: +66-2-612-2081 #129
Mobile: +66-86-884-4458
E-mail: ornanong.p@mtmultimedia.com;
orn_tabo@hotmail.com
Source: VGI Global Media PCL
Sectors: Daily Finance, Broadcast, Film & Sat
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