AZRB proposes corporate exercise to set off accumulated losses

KUALA LUMPUR: Ahmad Zaki Resources Bhd (AZRB) has proposed a corporate exercise involving reducing its paid-up share capital and a rights issue with warrants to reduce the accumulated losses at the company level.

It had on Wednesday proposed to reduce the paid-up share capital by cancelling 25 sen from each 50 sen share and a renounceable rights issue of up to 207.7million new shares with 103.85 million free warrants.