PARA­MOUNT PRO­POSES TWO-FOR-FIVE BONUS IS­SUE

The Sun (Malaysia) - - SUNBIZ -

PETAL­ING JAYA: Para­mount Corp Bhd pro­poses a bonus is­sue of 171.3 mil­lion new shares on the ba­sis of two bonus shares for ev­ery five ex­ist­ing shares held. It also pro­poses an is­suance of 171.3 mil­lion free war­rants on the ba­sis of two war­rants for ev­ery five ex­ist­ing shares held. The group said the pro­posed is­suances are in­tended to re­ward its share­hold­ers and al­low them to have greater par­tic­i­pa­tion in the eq­uity of Para­mount in terms of num­bers of shares while re­tain­ing their per­cent­age of eq­uity in­ter­est held. The gross pro­ceeds ex­pected to be raised upon full ex­er­cise of the war­rants based on the in­dica­tive ex­er­cise price of RM1.62 per war­rant is ap­prox­i­mately RM277.52 mil­lion.

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