Caely proposes one-for-two warrants bonus issue | http://www.klsescreener.com/v2/news/view/331145
KUALA LUMPUR (Jan 16): Caely Holdings Bhd has proposed a bonus issue of 40 million warrants on the basis of one warrant for every two existing shares held to reward its shareholders.
In a filing with Bursa Malaysia, Caely said assuming an indicative exercise price of 50 sen per warrant, the exercise could potentially raise gross proceeds of RM20 million, which will be used for future working capital, including for staff costs and other expenses.
The company has yet to set an exercise price or entitlement date for the warrants, which will be determined at a later date.
“The company is embarking on the proposed bonus issue of warrants instead of other available proposals to reward existing shareholders of the company, after taking into cognisance the financial performance and financial position of the group,” Caely said.
Besides rewarding its shareholders, the company said the issuance can potentially enhance its capital base, provide an avenue for shareholders to increase their equity in the company, as well as increase the liquidity of Caely’s shares upon exercise of the warrants.
BUY CAELY ABOVE 1.330 TARGET 1.400 1.550 SL 1.270
BUY CALL From EPIC RESEARCH at 10.55 am 15 Jan 2018
http://klse.i3investor.com/blogs/Bursa_Master/144492.jsp
