K1 Ventures proposes capital reduction to distribute surplus cash to shareholders

INVESTMENT holding company K1 Ventures has proposed a capital reduction exercise, which will see the company distributing cash to its shareholders.

K1's board announced on Wednesday that the capital reduction will take place by way of the company distributing up to S$0.3035 in cash for each ordinary share held in the company, by a books closure date to be determined.

This should see a total of up to S$131,453,008.05 being distributed, the board's announcement said. As at Wednesday, the company has an issued share capital of about S$131,470,102.

The proposed capital reduction will not result in any change in the number of shares held by any shareholder, the board said. The aim of the exercise is to distribute surplus cash to shareholders, it added.