LMS Compliance (SGX:LMS) proposed a bonus issue of nearly 22.9 million shares, according to a Tuesday filing with the Singapore Exchange.
One bonus share will be paid for every five existing shares held by shareholders under the proposal, the filing said.
Following the issue, the enlarged share capital of the company will increase to 137.3 million shares.
Shares of the company were down over 2% in Tuesday trading.
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