At its AGM held yesterday at Wisma JobStreet.com in Kuala Lumpur, the Board of Directors of JobStreet.com announced to its shareholders their proposed plan to have JobStreet Corporation Berhad transferred from the Mesdaq market to the Main Board of Bursa Malaysia.
Mr Mark Chang, JobStreet.com Chief Executive Officer said, ”We have produced a strong profit track record and have met all the capital requirements to qualify to make this move. Should we be granted the required approvals, this will be a great milestone for the company as it validates all the hard work and contribution made by everyone concerned.”
He added,” This is made possible also because of the solid support from our customers and the trust that jobseekers have placed in JobStreet.com, not only in Malaysia, but in all the countries where we operate.”
Should Bursa Malaysia and the Securities Commission approve this transfer, JobStreet Corporation Berhad will be the first online jobsite to get to the Main Board in Malaysia and the only such company listed in Southeast Asia. The company expects that the proposed transfer will boost confidence from stake holders and investors both locally and abroad.
The proposed plan for the transfer includes a bonus issue of 2 ordinary shares for every one ordinary share held and then a share consolidation of 2 ordinary shares of RM0.10 each after the Proposed Bonus Issue into 1 ordinary share of RM0.20 each.
JobStreet Corporation Berhad operates the JobStreet.com online recruitment websites presently covering the employment markets in Malaysia, Singapore, Philippines, Indonesia, India and Bangladesh. The Group currently services over 50,000 corporate customers and over 4 million jobseekers.