Timberwell proposes 1-for-3 share split and RM50m capital reduction

Timberwell Bhd has proposed a one-for-three share split and a RM50 million capital reduction to tidy up its finances and improve trading liquidity. The split would raise shares in issue to 267.15 million from 89.05 million, with a theoretical adjusted price of 61.5 sen against the Aug 17 close of RM1.85. The capital reduction would wipe out accumulated losses of RM48.97 million, leaving retained earnings of RM1.03 million, and both proposals need shareholder and Bursa Malaysia approval, with completion targeted for the fourth quarter of 2026.