Maybulk Bhd · MYX:MAYBULK
Maybulk Bhd — Malaysian Bulk Carriers Berhad — Shareholder Meeting (June 2023)
8 slides from Maybulk Bhd's shareholder meeting presentation, Jun 15, 2023
Slide 1: Extraordinary General Meeting 15 June 2023
MALAYSIAN BULK CARRIERS BERHAD Registration No. 198801008597 (175953-W) Incorporated in Malaysia Extraordinary General Meeting 15 June 2023 1
Slide 2: Disclaimer
Disclaimer The information contained in this presentation is for information purposes only, and does not constitute or form part of any offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for, or any offer to underwrite or otherwise acquire any securiti
Slide 3: Proposed Capital Reduction
Proposed Capital Reduction Based on the draft audited accounts of Malaysian Bulk Carriers Berhad, as at 31 December 2022, the shareholders’ equity is as follows: Group Company RM’000 RM’000 Share capital 338,791 338,791 Forex reserve (non-distributable) 143,778 427,850 Retained earnings/(Accumulated
Slide 4: Rationale
Rationale Although the Group and the Company is solvent, the ability of the Group and the Company to undertake the following corporate transactions is limited by the accumulated loss at Company level: • Declaration of dividend is subject to profit generated at Company level • The Company is not able
Slide 5: Impact
Impact • Issued share capital in the balance sheet will be reduced by the amount of capital reduction proposed but the total number of shares shall remain the same • Accumulated losses at Company level will be eliminated and turned into retained earnings and retained earnings at Group level will be
Slide 6: Financial Impact (Group)
Financial Impact With a capital reduction of RM275 million. the impact on the Group shareholders’ funds will be as follows: Before Reduction After RM’000 RM’000 RM’000 Share capital 338,791 (275,000) 63,791 Forex reserve (non-distributable) 143,778 0 143,778 Retained earnings 4,483 275,000 *(230) 27
Slide 7: Financial Impact (Company)
Financial Impact With a capital reduction of RM275 million. the impact on the Company shareholders’ funds will be as follows: Before Reduction After RM’000 RM’000 RM’000 Share capital 338,791 (275,000) 63,791 Forex reserve (non-distributable) 427,850 0 427,850 Accumulated losses/ (259,069) 275,000 R
Slide 8: End of Presentation
MALAYSIAN BULK CARRIERS BERHAD Extraordinary General Meeting 15 June 2023 END OF PRESENTATION
Malaysian Bulk Carriers Berhad — Shareholder Meeting (June 2023) on 6ix