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E&O proposes bonus issue, free warrants and PDS
by Cals Fri 05 Sep 2014, 21:44
| E&O proposes bonus issue, free warrants and PDS |
| Business & Markets 2014 |
| Written by Gho Chee Yuan of theedgemalaysia.com |
| Friday, 05 September 2014 19:51 KUALA LUMPUR (Sept 05): Eastern & Oriental Bhd has proposed a bonus issue, free warrants and up to RM500 million in nominal value of private debt securities. The bonus issue of 114.09 million shares of RM1 each will be on the basis of one bonus share for every 10 existing shares held, E&O said in a filing with Bursa Malaysia. "The proposed bonus issue was to reward existing shareholders by enabling them to have greater participation and increase the number of E&O stock units held by the stockholders, while retaining their percentage of equity interest held," it said. The 228.19 million free warrants, meanwhile, will be issued on the basis of one warrant for every five existing warrants. As for the private debt securities, it will be in the form of medium term notes (MTNs) under a 20-year programme, and commercial papers (CP) under a seven-year programme. The combined limit of both the MTN and CP would not exceed RM500 million at any point of time, E&O said. |
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