Mestron Holdings Bhd is proposing to transfer the listing and quotation for its entire issued share capital and outstanding warrants from the ACE Market to the Main Market of Bursa Malaysia Securities Berhad.
A filing with the Exchange shows that the leading manufacturer of specialty poles has also proposed an amendment to the constitution of MHB to facilitate the implementation of the Proposed Transfer.
Managing Director, Mr Por Teong Eng said, “The Group is in a healthy financial position with no accumulated losses based on its latest audited consolidated statement of financial position as at 31 December 2022.” The company said it has shown profitability for the past five financial years with RM27.20 million and adjusted PAT attributable to owners of the Company of RM8.25 million for FYE 2022, being the most recent financial year.
The transfer is to enhance the group’s prestige and reputation and will accord it greater recognition and acceptance amongst investors, particularly institutional investors the group said. The company was listed at a market capitalisation of RM126.4 million, today its market capitalisation stands at approximately RM385.1 million.
