KUALA LUMPUR: YB Ventures Bhd has proposed to undertake a bonus issue of warrants to reward its shareholders and allow the group to obtain proceeds without incurring interest when the 3-year convertible warrants are exercised.
The tile manufacturer and information technology company will undertake a bonus issue of up to 749 million free warrants on the basis of one warrant for every two existing ordinary shares held on an entitlement date to be determined later.
Its executive director Datuk Au Yee Boon said the offer “is an attractive corporate exercise to reward our loyal shareholders, enabling them to have greater participation in a derivative of YB Ventures without incurring any cost.”
“We are also confident of maintaining a profitable year for the financial year 2021 despite the impact from the Movement Control Oder 3.0,” he said in a statement. “Our business operation is back to its full force after all our operational workers had completed their second dose of vaccine, which is in line with the guidelines set out by the Health Ministry.”
Going forward, he said that the group will scout for merger and acquisition (M&A) opportunities that arise from the COVID-19 pandemic.