KUALA LUMPUR: Solar District Cooling Group Bhd’s (SDCG) shareholders have approved all resolutions tabled at its extraordinary general meeting (EGM), including a bonus issue of warrants and the establishment of an employee share option scheme (ESOS).
In a statement, the group said the proposals include a bonus issue of up to 211.9 million free warrants on the basis of one warrant for every two existing shares held, as well as an ESOS of up to 10% of its issued share capital.
It said the bonus issue of warrants will allow shareholders to participate in the company’s growth, while giving SDCG flexibility to strengthen its capital base upon exercise.
“Proceeds arising from the exercise of the warrants, if any, are intended to be utilised primarily for working capital requirements, including procurement of materials, project execution and operational expenses, in line with the Group’s business activities,” SDCG said.
It said the ESOS is aimed at rewarding employees and directors, while aligning their interests with shareholders and supporting long-term growth.
Managing director Edison Kong said the approvals mark an important step in strengthening capital flexibility and talent alignment.
“The warrants provide us with the ability to raise funds when needed to support our operations, while the ESOS ensures we continue to attract, retain and motivate the right talent to drive our business forward,” he said.
He added that the group is well-positioned to capture the rising demand for energy efficiency and sustainable solutions.
The EGM also approved specific ESOS allocations to eligible directors and key senior management.
