Audience Analytics Proposes 1-for-3 Bonus Share Issue to Reward Shareholders

Audience Analytics Limited, a Singapore-incorporated company, has announced an exciting development for shareholders—a proposed bonus issue of up to 56,926,500 new ordinary shares. The bonus shares will be issued on the basis of one (1) bonus share for every three (3) existing ordinary shares held by shareholders as of a record date that is yet to be determined.

Key Details of the Proposed Bonus Issue

• Share Capital: The company currently has 170,779,500 issued and paid-up shares with no treasury shares or subsidiary holdings. Assuming no changes to this number before the record date, the company will issue up to 56,926,500 bonus shares.
• Approval Mandate: The bonus shares will be issued under the general mandate approved at the annual general meeting on 22 April 2024. This allows the company to allot new shares on a pro-rata basis, up to 100% of the issued share capital.
• Fully Paid at Nil Consideration: Shareholders will receive the bonus shares fully paid, without requiring any capitalisation of the company’s reserves.
• Pari Passu Ranking: The bonus shares will rank equally with existing shares, except for dividends or distributions where the record date precedes the allotment date.

Rationale Behind the Move

The company explained that the bonus issue aims to reward shareholders for their continued support and to enhance the trading liquidity of its shares. The increase in the number of issued shares is expected to facilitate greater investor participation and broaden the shareholder base.

Regulatory Compliance and Price Sensitivity

The listing and quotation of the bonus shares on the Catalist Board of the SGX-ST are subject to approval from the Singapore Exchange Securities Trading Limited (SGX-ST). The company has stated its confidence in meeting the SGX-ST’s Rule 838, which requires the adjusted daily weighted average price of shares for the one-month period preceding the bonus issue application to be at least S\$0.20.

To illustrate, the theoretical ex-bonus price (TEBP) based on the lowest daily weighted average price of S\$0.3050, multiplied by three and divided by four, results in a TEBP of S\$0.2288—comfortably above the threshold.

Impact on Share Awards

The company will adjust outstanding share awards under its Shared Purpose and Prosperity Incentive Plan to reflect the bonus issue. These adjustments will align with the plan’s rules.

Shareholder Considerations

Shareholders should note that the bonus issue is still subject to the necessary regulatory approvals. The announcement advises shareholders and potential investors to exercise caution when trading shares and to seek professional advice if uncertain about the impact of the proposed bonus issue.

Management Statement

Datuk William Ng, Chairman and Managing Director of Audience Analytics Limited, emphasized the company’s commitment to rewarding shareholders and maintaining transparency. The directors collectively affirmed the accuracy of the information disclosed and their responsibility for ensuring full compliance with regulatory requirements.

Next Steps

The record date for determining shareholders’ eligibility for the bonus shares will be announced after obtaining the necessary approvals. Shareholders are urged to keep an eye out for updates from the company.

Disclaimer

This article is for informational purposes only and does not constitute financial advice. Shareholders and investors should exercise due diligence and consult with professional advisors before making any investment decisions.