Monday, June 13, 2011

Press Metal gets Bursa nod to list RM323.7m loan stocks, 147m new shares

KUALA LUMPUR: PRESS METAL BHD [] has received Bursa Malaysia Securities Bhd's listing of and quotation for up to RM323.73 million nominal value of eight year 6% redeemable convertible secured loan stocks.

The company said on Monday, June 13 that Bursa Securities also approved the listing of 147.15 million free detachable warrants issued under the rights issue.

The regulator also approved the listing and quotation for up to 147.15 million new shares to be issued when the warrants are exercised.

The cash call involved the issuance of the loan stocks at 100% of their nominal value together with up to 147.15 million warrants on the basis of one RM2.20 nominal value of RCSLS together with one warrant for every three shares held.

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