"KUALA LUMPUR (March 7): Pelikan International Corporation Bhd plans to reward its shareholders with one treasury share for evey 50 existing shares held for FY ended Dec 31, 2011."
Shareholders own Pelikan relative to their shareholding. If Pelikan holds the treasure shares, cancels the treasure shares or tranfers them to the shareholders, in all three cases nothing changes for the shareholders. They still hold the same piece of the same pie.
Pelikan, a well known international brand, was brought to the Malaysian market with quite some excitement. That excitement has fizzled out. These are the last quarterly results, they look bad, is that why they try to comfort the shareholders with an empty gesture?