4 more Honey Bun shares

Honey Bun’s board of directors agreed to recommend at an Extraordinary General Meeting to be held in May 2016 a stock split for its shares. Accordingly, it is proposed that each ordinary share of the company be split into five shares.
The split will result in the Authorized Share Capital be increased from 97,500,000 shares to 487,500,000 shares of no par value, and the issued and fully paid capital of the company be increased from 94,253,390 shares to 471,266,950 of no par value.
Honey Bun reported a strong 175 percent increase in after tax profit to $45.3 million in the first quarter of financial year ending December 2015, from an increase of 42 percent in sales. The company enjoyed an increase in its gross profit margin of 47 percent compared to 45.4 percent in the 2014 quarter. Administrative, Selling & Distribution cost rose much slower than revenues at 21.5 percent over 2014. Earnings per share came out at 48 cents. Honey Bun earned 72 cents per share for the fiscal year to September 2015.
The stock last traded at on the junior market of the Jamaica Stock Exchange at $13.
If approved, Honey Bun will be the sixth junior market listed company to split their stock. Others that had a split are Access Finance and the three Lasco companies into 10 shares, and recently, Jamaican Teas into two shares for each one held.