Bursa Malaysia Stock Watch
Chuan Huat rises on bonus issue plans
kltrader
Publish date: Wed, 28 Jul 2010, 11:16 AM
kltrader
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KUALA LUMPUR: Chuan Huat Resources Bhd's share price rose on Wednesday, July 28 after it proposed a corporate exercise which includes a bonus issue, renounceable rights issue and increase in authorised share capital. The bonus issue would involve one bonus shares for every three shares held.At 9.30am, Chuan Huat was up 20.5 sen to 76.5 sen with 2.45 million shares done.
The proposed renounceable rights issue of 41.78 million five-year warrants 2010/2015 on the basis of one warrant for every four shares held after the proposed bonus issue at an issue price of 2 sen per warrant.
Chuan Huat said it planned to increase the authorised share capital from RM100 million comprising 200 million shares to RM500 million comprising one billion shares by the creation of an additional 800 million shares.
The proposed renounceable rights issue of 41.78 million five-year warrants 2010/2015 on the basis of one warrant for every four shares held after the proposed bonus issue at an issue price of 2 sen per warrant.
Chuan Huat said it planned to increase the authorised share capital from RM100 million comprising 200 million shares to RM500 million comprising one billion shares by the creation of an additional 800 million shares.
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