ADDITIONAL QUOTATION OF 38,892 PBP SHARES

The South Pacific Stock Exchange (SPX) is pleased to announce that Pleass Global Limited (PBP) has quoted an additional 38,892 shares at $2.71 per share on the SPX trading platform during pre-open session yesterday, through its Dividend Reinvestment Scheme.

PBP declared a dividend of $0.02 cents per share on April 30, 2020 which amounted to a total dividend pay-out of $133,690. Of this amount, $28,293 was paid in cash dividends to shareholders preferring this mode whilst the remaining shareholders opted for dividend reinvestment. Total dividend reinvestment is valued at $105,397.

SPX chief executive officer, Krishika Narayan said “this is the third consecutive dividend declaration where PBP shareholders have been offered an option to reinvest their dividend proceeds through a dividend reinvestment plan. This is certainly a welcome trend noted by the SPX as the amount reinvested has stood higher at approximately 79 per cent in comparison to a lower amount distributed in cash.

“This investor behaviour statistically depicts that such initiatives are favoured by shareholders where they are able to reinvest their available earnings and expand their investment portfolio which they may not do otherwise through their individual savings. “This also augurs well for their long-term financial goals and the concept of compounding. The SPX anticipates other listed entities to foresee the benefits of such corporate actions and take queue as this empowers shareholders encouraging them for greater participation in the share market.”

Financial statements

Based on its most recent (31st December, 2019) audited financial statements, PBP’s Price Earnings ratio (PE) now stands at 28.46 times with a dividend yield of 2.11 per cent and market capitalisation of $19,161,667.

Earnings per Share (EPS) for the company stands at 10.01 cents.

PBP’s current market price is $2.85 with a total of 6,723,392 shares now quoted on the SPX trading platform.