Thursday, March 31, 2011

DBE Gurney slips after brief run-up

KUALA LUMPUR: Shares of poultry-based DBE Gurney Bhd fell in late morning on Thursday, March 31, giving up the previous day's gains.

At 11.14am, it was down 2.5 sen to 13.5 sen with 126.67 million shares done. However, its warrants rose 1.5 sen to 7.5 sen with 33.09 million units transacted.

The FBM KLCI rose 4.66 points to 1,536.29. Turnover 1.01 billion shares valued at RM732.85 million. There were 286 gainers, 368 losers and 255 stocks unchanged.

DBE Gurney's additional 593.33 million new shares and 200 million warrants were listed on Thursday. The warrants were issued for free to the subscribers of the renounceable rights issue of 400 million rights shares on the basis of one free detachable warrants for every two rights shares subscribed for.

The maturity date of the warrants is March 22, 2016 and the conversion price is 10 sen. The new shares of 10 sen were issued pursuant to the rights issue with warrants and capitalisation of amounts due to director and creditors settlement.

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