Novena Holdings plans 1-for-4 bonus issue

May 24, 2004
The Straits Times

FURNITURE maker Novena Holdings plans to issue one new share for every four shares held by shareholders.

Entitlements to the new shares will be rounded down to the nearest whole new share.
The bonus issue will be capitalised from the company's share premium and accumulated profit accounts.

The auditor, Ernst & Young, has confirmed that Novena has enough reserves to cover the capitalisation of the issue.