Caely proposes 1-for-2 bonus issue

PETALING JAYA: Caely Bhd proposes to undertake a bonus issue of warrants on the basis of one warrant for every two existing shares held.
The lingerie firm told Bursa Malaysia that it entails the issuance of 40 million warrants.
Caely noted that the exact quantum of the future proceeds that may be raised would depend on the actual number of warrants exercised during the tenure of the warrants as well as its exercise price.
Assuming full exercise of the warrants at the indicative exercise price of 50 sen per warrant, the company could potentially raise gross proceeds of RM20 million.
Proceeds are to be used for the repayment of borrowings and future working capital requirements.
Caely’s share price fell 2 sen or 1.5% to close at RM1.31, on some 5.36 million shares done.