KUALA LUMPUR: Eastern & Oriental Bhd (E&O) has proposed a corporate exercise, involving a bonus issue, free warrants and the issuance of up to RM500 million private debt securities. E&O said it had proposed a bonus issue of up to 114.098 million shares on a one-for-10 basis and the issuance of up to 228.18 million free warrants on a one-for-five basis. The warrants’ indicative exercise price is assumed at RM2.90 each, representing a premium of 4.6 sen, or 1.61 per cent, to the five-day volume weighted average market price of RM2.854 up to and including Thursday’s closing price.
news