In a filing with Bursa Malaysia today, the infrastructure company declared a capital repayment of 50.63 sen per share held, totalling RM275.78 million, which is entitled for repayment on Aug 10.

This decision came after the company was categorised as a cash company due to its divestment of its 100% stake in Lingkaran Trans Kota Sdn Bhd for RM2.33 billion and its 50% interest in Sistem Penyuraian Trafik KL Barat Sdn Bhd (Sprint) for RM904 million to Amanat Lebuhraya Rakyat Bhd.

In addition to the capital repayment announcement, Litrak has informed that trading of its shares on the Main Market will remain suspended until the capital repayment is completed. Following that, the company plans to delist its shares and initiate a voluntary winding-up process.

“Litrak shareholders will retain their unlisted shares during the winding-up process and will receive an additional cash distribution from the remaining available funds after the process concludes,” the company had said in its filing to the stock exchange on April 6.

Litrak’s share price was unchanged at 51 sen today, giving the company a market capitalisation of RM277.74 million.