SILK plans dividend reinvestment

KUALA LUMPUR: SILK Holdings Bhd (SHB) plans to undertake a dividend reinvestment plan (DRP) that gives its shareholders the option to reinvest their cash dividend(s) declared by SHB in new ordinary shares of the firm. It also announced a proposal to seek shareholders’ approval for the authority to purchase up to 10 per cent of the firm’s issued share capital as at the point of purchase. The net proceeds from DRP will be utilised for future investments and the general corporate and working capital requirements of SHB and units.