Oiltek outlines proposed bonus issue in circular to shareholders

The bonus issue will be distributed on a two-for-one basis to existing shareholders.

Oiltek International Limited (Oiltek) has issued a circular to shareholders on the proposed bonus issue of up to 286 million new ordinary shares in the company.

Under the proposal, shareholders will receive two bonus shares for every existing ordinary share held in the capital of Oiltek.

In a bourse filing, Oiltek advised shareholders who have sold or transferred all their shares represented by physical share certificate(s) to immediately forward the circular, the notice of annual general meeting, and the accompanying Proxy Form to the purchaser or transferee, or to the stockbroker or other agent through whom the sale or transfer was effected, for onward transmission.

Meanwhile, shareholders who have sold or transferred all their shares held through The Central Depository (Pte) Limited do not need to forward these documents to the purchaser or transferee.

The circular has been reviewed by the company’s sponsor, SAC Capital, but has not been examined or approved by the Singapore Exchange Securities Trading Limited.

Rubicon Law LLC is the legal adviser for the proposed transaction described in the circular.

Follow the link for more news on

Oiltek

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia