S i2i plans S$0.729 a share distribution via capital reduction
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Angela Tan
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Singapore
BARELY half a year since the return of its founder last September, S i2i has returned to the black and is planning a cash distribution of about S$10 million, or 72.9 Singapore cents a share, to shareholders via a capital reduction exercise.
The telecom and IT service provider - which has been on the Singapore Exchange (SGX) watch-list since March 2015 following three years of losses - said the capital reduction would not result in any cancellation of shares or a change in the number of shares held by the shareholders. The proposed cash distribution would be paid out of its cash balances. As at end-2015, it had S$32.8 million in cash and cash equivalents.
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