KUALA LUMPUR: Leweko Resources Bhd had proposed to diversify into property development under a corporate exercise which includes a share capital reduction and rights issue with free warrants.
It had on Wednesday halted trading in its shares from 9am to 10am for the announcement.
Leweko had proposed to team up with Kampung Kenayat Sdn Bhd to jointly develop 38 parcels of land totalling 96,785 square metres in Hulu Kinta for a mixed-use development.
It also proposed to reduce its paid-up share capital by cancelling 30 sen of the par value of each 50 sen share and reduce it to 20 sen each.
Leweko also proposed a renounceable rights issue of up to 161.16 million new right shares on the basis of two rights shares for every three existing shares held after the par value reduction.
This would include up to 201.45 million free detachable warrants on the basis of five warrants for every four rights shares subscribed.
http://www.thestar.com.my
It had on Wednesday halted trading in its shares from 9am to 10am for the announcement.
Leweko had proposed to team up with Kampung Kenayat Sdn Bhd to jointly develop 38 parcels of land totalling 96,785 square metres in Hulu Kinta for a mixed-use development.
It also proposed to reduce its paid-up share capital by cancelling 30 sen of the par value of each 50 sen share and reduce it to 20 sen each.
Leweko also proposed a renounceable rights issue of up to 161.16 million new right shares on the basis of two rights shares for every three existing shares held after the par value reduction.
This would include up to 201.45 million free detachable warrants on the basis of five warrants for every four rights shares subscribed.
http://www.thestar.com.my
