The directors of Perwaja Holdings Bhd (PHB) have extended the deadline from March 12 to Friday, March 16 for the Renounceable Restricted Offer For Sale by Kinsteel Bhd of RM175,450,000 nominal value of the seven per cent 7-year Redeemable Convertible Unsecured Loan Stocks (RCULS) in PHB held by it to PHB shareholders, other than Kinsteel.

The offer is at 100 per cent of its nominal value on the basis of RM1.00 nominal value of RCULS for every two existing ordinary shares of RM1.00 each in PHB held as at 5.00 p.m. on Feb 24, 2012.

This is to facilitate an extended period of time for shareholders/renounces to accept and pay for the subscriptions, PHB said in a statement today.-- Bernama