WCE Holdings shareholder in warrant exercise

KLANG: WCE Holdings Bhd announced that one of its substantial shareholders, United Frontiers Holdings Limited (UFHL) has exercised 46,707,560 warrants into new ordinary shares, at a price of 39 sen per warrant share.

Following this warrants exercise, UFHL will have a direct holding of 10.77% in WCE Holdings.

The company reported that as at the financial year ended March 31, 2024, it had 501,359,294 warrants remaining in issuance, pursuant to the renounceable right issue in November 2019, issued on the basis of one free warrant for every four redeemable convertible preference shares subscribed.

WCE Holdings is also the holding company of the West Coast Expressway project, which is currently at 94% completion.