KUALA LUMPUR: WCT BHD [] will go ahead with its corporate exercise to offer 193.73 million warrants on a renounceable basis of one warrant for every five shares held.
The company said on Tuesday, Oct 5 it would not go ahead with the earlier plan to offer 60 million warrants to entitled senior management of the WCT group of companies.
On July 28, WCT had proposed to offer the warrants pursuant to the issuance of RM600 million nominal value of serial fixed rate bonds of up to five years.
The proposed offer for sale to the senior management was to provide the entitled senior management with an opportunity to participate in the long-term and future growth of the WCT Group, as an additional reward for their contribution to the WCT Group and more importantly, for their dedication and loyalty.
After further evaluation of the desired objectives vis-''-vis the underlying instrument of the proposed offer for sale to the senior management, the board had on Oct 5 viewed the objectives could be better achieved through other means, including a new employees' share option scheme which can only be undertaken after the expiry of the company's existing employees share option scheme.
The company said on Tuesday, Oct 5 it would not go ahead with the earlier plan to offer 60 million warrants to entitled senior management of the WCT group of companies.
On July 28, WCT had proposed to offer the warrants pursuant to the issuance of RM600 million nominal value of serial fixed rate bonds of up to five years.
The proposed offer for sale to the senior management was to provide the entitled senior management with an opportunity to participate in the long-term and future growth of the WCT Group, as an additional reward for their contribution to the WCT Group and more importantly, for their dedication and loyalty.
After further evaluation of the desired objectives vis-''-vis the underlying instrument of the proposed offer for sale to the senior management, the board had on Oct 5 viewed the objectives could be better achieved through other means, including a new employees' share option scheme which can only be undertaken after the expiry of the company's existing employees share option scheme.
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