TWL shareholders approve RM111.3mil rights issue to fund development projects

KUALA LUMPUR: TWL Holdings Bhd’s shareholders today approved the proposed renounceable rights issue of up to RM111.3 million nominal value of 5.6 billion five-year redeemable convertible unsecured loan stocks (RCULS) with up to 1.1 billion free detachable Warrants E.

TWL said in a statement that it would be on the basis of 10 RCULS together with two free Warrants E for every 10 existing shares held by entitled shareholders on the entitlement date.