Eksons

I had talked about this stock, Eksons, quite some time ago in my private forum.

Well two things..

1. It has finally decided to distribute some cash back..

• Eksons to pay out RM33m cash
  
  Eksons Corporation Bhd has proposed to undertake a capital repayment totalling RM32.8 million cash to reward its shareholders amid the company’s improved financial results.
  In a statement on July 4, Eksons said it was distributing 20 sen per share via a share capital reduction exercise. The par value of Eksons shares will be reduced from RM1 to 80 sen each.

( more )

2. Under this writeup in the Star on Monday: Corporates reveal use of cash

• Plywood manufacturer Eksons Corp Bhd is going out on a limb to get the agreement of its minority shareholders for its diversification plans. It announced last week it would seek an “an upfront approval” from shareholders.
  Eksons had earlier proposed to acquire interests in property-based companies, its first foray into this sector.

Well the company announced this today : link

How?

Plywood market is not that good. This causes Eksons to consider a foray into the property sector.

!!??

Well at least the cash back announcement is worth a cheer or two for existing shareholders.

Yes?

No wonder the stock has some oomph lately..

snapshots of an old posting back in 2005.. note the issue of the dividends!