Kanger fixes warrants B exercise price at 5 sen each

KUALA LUMPUR: Kanger International Bhd has fixed the exercise price of the warrants B at five sen each which will be issued at no cost to the entitled shareholders.

It said on Monday the exercise price was at a discount range of 10% to 30% to the theoretical ex-rights price (TERP) based on the five-day volume weighted average price of Kanger shares up to and including Aug 13.

Kanger said the range of discount would allow the board to fix the exercise price of the warrants B at a sufficiently attractive price to incentivise the holders to exercise the Warrants B.

The discount would also allow the board the flexibility to accommodate for potential fluctuations in prevailing market conditions and prices.

The exercise price of five sen per warrant B was discount of 11.66% to the TERP of 5.66 sen per share.

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