KUALA LUMPUR: FORMIS RESOURCES BHD [] has proposed to issue 92.95 million free warrants on the basis of one warrant for every two shares held.
The company said on Monday, Jan 24 the free warrants would enable shareholders to increase their participation in the equity of the company at a predetermined exercise price during the tenure of the free Warrants.
'The free warrants are exercisable anytime during the exercise period of five years from the date of issue, at a price of RM1.10 per share,' it said.
Formis said the proceeds from the exercise of the free warrants would be used to strengthen its capital base and used to repay borrowings and/or to fund the future capital expenditure and/or working capital requirements of the group.
The integrated IT solutions provider, with capabilities for end-to-end solutions, has an order book of RM156 million as at Dec 31, 2010.
The company said on Monday, Jan 24 the free warrants would enable shareholders to increase their participation in the equity of the company at a predetermined exercise price during the tenure of the free Warrants.
'The free warrants are exercisable anytime during the exercise period of five years from the date of issue, at a price of RM1.10 per share,' it said.
Formis said the proceeds from the exercise of the free warrants would be used to strengthen its capital base and used to repay borrowings and/or to fund the future capital expenditure and/or working capital requirements of the group.
The integrated IT solutions provider, with capabilities for end-to-end solutions, has an order book of RM156 million as at Dec 31, 2010.
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