Oiltek plans 2 for 1 bonus share issue

It aims to reflect business growth and reward shareholders.

Oiltek International Limited is proposing a bonus issue of up to 286 million new ordinary shares at the ratio of two bonus shares for each existing share held.

The company said the bonus issue will increase the issued share capital base to reflect business growth and reward shareholders.

This will bring the company's share base to 429 million shares from 143 million shares.

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