Boustead Heavy Industries Corporation Berhad (BHIC) will suspend trading of its ordinary shares on Bursa Malaysia from 9.00am on Aug 7, 2026, as the company moves forward with its selective capital reduction and repayment exercise that will result in its eventual delisting from the local stock exchange.
In a notice to shareholders, BHIC said the final day of trading for its shares will be Aug 6, 2026, before trading is suspended on the following market day.
The company said the suspension will remain in place until BHIC is officially removed from Bursa Malaysia’s Main Market upon completion of the capital reduction exercise.
The exercise involves a selective capital reduction and repayment under Section 116 of the Companies Act 2016, through which all BHIC ordinary shares not held by Boustead Holdings Berhad (BHB), together with all outstanding Redeemable Convertible Preference Shares (RCPS) Class A and Islamic RCPS Class A (RCPS-i A), will be cancelled.
Under the exercise, eligible shareholders and holders of RCPS A and RCPS-i A will receive RM0.48 in cash for each security held on the entitlement date.
The entitlement date has been fixed for Aug 10, 2026, with shareholders and preference share holders whose names appear in the relevant records as at 5.00pm on that date qualifying for the cash payment.
The cash consideration will be paid within 10 days from the effective date of the capital reduction, following the lodgement of the High Court’s sealed order with the Registrar of Companies.
The High Court in Malaya granted the order confirming the capital reduction on July 1, 2026.
Following the suspension of trading, BHIC shares will no longer be available for trading on Bursa Malaysia.
The company said the delisting from the Official List of Bursa Securities will take place upon completion of the capital reduction exercise, marking the conclusion of the privatisation process for the defence and marine engineering group.
BHIC advised shareholders to refer to the notice dated July 27, 2026 for further details on the suspension of trading, entitlement date and implementation timetable for the exercise.
