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[StarBiz] Matrix Concepts rewards shareholders with bonus issue, warrants
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Matrix Concepts proposes bonus issue with warrants [Press Release]

  • 1-for-6 bonus issue together with 1-for-6 free warrants
  • Exercise to reward shareholders and increase share capital base

Seremban, Negeri Sembilan, Malaysia, 15 April 2015 – Leading Negeri Sembilan property developer Matrix Concepts Holdings Berhad(Matrix Concepts; 金群利集团; Bloomberg: MCH:MK; Reuters: MATR.KL) today announced a corporate exercise to issue bonus shares together with new warrants, on the basis of one bonus share and one free warrant for every six Matrix Concepts shares held at an entitlement date to be determined later.

The exercise will see an issuance of up to 77.8 million new ordinary shares of RM1 par and up to 77.8 million 5-year warrants. The maximum scenario is dependent on the exercise of outstanding options under the Group’s Employee Share Option Scheme.

The bonus shares will effectively increase Matrix Concepts’ share capital up to a maximum of RM544.8 million, comprising 544.8 million shares of RM1 par, from 461.4 million shares currently; while the 5-year warrants are expected to eventually increase the share capital by an additional RM77.8 million, assuming full exercise of the warrants during the 5-year tenure.

Dato’ Haji Mohamad Haslah bin Mohamad Amin, Chairman of Matrix Concepts Holdings Berhad said:

“The corporate exercise aims to increase our share capital base, as well as encourage heightened retail participation, hence improving share liquidity. Also, the free warrants are to reward all existing shareholders, allowing them to increase their equity in the Group and gain greater exposure to our future growth.

Furthermore, the increased capital through the exercise of warrants over the next 5 years would translate into additional working capital to finance ongoing and future projects of the Group.”

Read the full press release here.