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Borneo Aqua to reward shareholders with free warrants KUALA LUMPUR: Borneo Aqua Harvest Bhd is rewarding shareholders with up to 325.
67 million free warrants. This will be on the basis of one free warrant for every two shares held at a date to be fixed. The integrated marine aquaculture company said on Thursday the exercise price of the kate spade 70 percent off warrants, which are for seven years, has been fixed at 87 sen per warrant. This about 3.88% over the five days volume weighted average market price of the shares up to and including the last market day before the announcement of 83.75 sen. Borneo Aqua managing director Datuk Lo Fui Ming said free warrants were to reward kate spade backpack price shareholders for their support and they could also benefit from any potential capital appreciation arising from the exercise of the warrants. proceeds from the exercise of the warrants will further strengthen the capital base and market capitalisation of Borneo Aqua and will enable the company to raise funds without incurring interest cost, as compared to bank borrowings, he added. The proposed free warrants issue will not raise any funds upon its issuance as the kate spade outlet sale dates warrants will be issued at no cost to kate spade bags black friday the entitled shareholders of Borneo Aqua.
However, the proceeds from the exercise of the warrants will be used as working capital, which may include cost of prospecting on the subleased mining land of 289.7ha part of the 317.7ha in Tawau, Sabah by its unit Wullersdorf Resources Sdn Bhd and its aquaculture business operations.
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