Country Heights plans 1-for-2 bonus issue of warrants

PETALING JAYA: Country Heights Holdings Bhd (CHHB) proposes to undertake a bonus issue of warrants.
The group said in a filing with the stock exchange that the bonus issue involves an issuance of up to 137.85 million warrants on the basis of one warrant for every two existing CHHB shares held.
CHHB noted that the exact quantum of the proceeds that may be raised will depend on the exercise price of the warrants and the actual number of warrants exercised during its five-year tenure. The proceeds will be used for working capital.
The bonus issue of warrants will provide the shareholders with the opportunity to increase their participation and to benefit from any potential capital appreciation of the warrants.
Barring any unforeseen circumstances, it is expected to be completed by the fourth quarter this year.