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Southern Cable proposes bonus issue. This will entail the issuance of 400 million five-year warrants, with an option for holders to exercise one warrant into one new share of Southern Cable.(File pic: Southern Cable factory)

PETALING JAYA: Southern Cable Group Bhd has proposed an undertaking of a bonus issuance of its warrants, on the basis of one warrant for every two existing shares held in the company.

This will entail the issuance of 400 million five-year warrants, with an option for holders to exercise one warrant into one new share of Southern Cable.

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Assuming a full exercise of the warrants, Southern Cable is expects to raise up to RM117.7mil in gross proceeds for its working capital requirements.

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