KUALA LUMPUR: Niche Capital Emas Holdings Bhd has proposed to undertake a bonus issue of warrants, offering one warrant for every two existing ordinary shares held by entitled shareholders on an entitlement date to be determined later.
In a filing with Bursa Malaysia, Niche stated that the proposed bonus issue entails issuing up to 741.94 million warrants on this basis.
The company noted that the issuance will not generate immediate funds, as the warrants will be provided at no cost to shareholders.
Additionally, Niche has proposed a RM70mil share capital reduction under Section 117 of the Companies Act 2016, which would create a RM70mil credit to offset the company’s accumulated losses, with any remaining balance credited to retained earnings. — Bernama
