Unique Fire Holdings Berhad has proposed to undertake a bonus issue of 200 million warrants on the basis of 1 warrant for every 2 existing Unique Fire shares.
The group said the entitlement date will be determined and announced at a later date once all the relevant approvals for this proposed bonus issue have been obtained. The exercise price of the warrants, which will be issued at no cost to the entitled shareholders, will also be determined after all relevant approvals have been received.
Unique Fire managing director Liew Sen Hoi said, “The anticipated growth of the construction and property sector in Malaysia has already started to take shape in the form of rollouts of infrastructure projects. Concurrently, we are moving forward with various strategic expansion plans to meet the higher demand for firefighting systems in light of the higher number of infrastructure projects. These plans nonetheless require that we channel our funding towards them. As we must also take into consideration the need to reward our shareholders, we believe this bonus issue is ideal where we can reward the shareholders while conserving our cash for expansion purposes. The shareholders in turn will not be burdened as the warrants will be issued at no cost to them.
