PETALING JAYA: Berjaya Assets Bhd (BAssets) has proposed a bonus issue for its shareholders that would entail the issuance of up to 1.279 billion warrants on the basis of one warrant for every two existing BAssets shares held.
The company said in a filing with Bursa Malaysia that based on the issued share capital of the company, the maximum number of warrants to be issued pursuant to the proposed bonus issue is 1.279 billion warrants.
The exercise price of the warrants has been fixed at 35 sen per warrant, which represents a discount of 12.5% to the theoretical ex-bonus price of BAssets shares of 40 sen. This is based on the five-day, volume-weighted average market price of BAssets shares up to and including the latest practicable date of 42 sen, it said.
“There are no cash proceeds arising from the proposed bonus issue, as the warrants will be issued at no cost to shareholders. The exact quantum of cash proceeds to be raised by BAssets during the exercise period of the warrants will depend on the actual number of warrants exercised.”