<div class=newsTextDataWrapInner><p>KUALA LUMPUR (June 2): Property developer HIL Industries Bhd, which saw its share price hit another all-time high today, has proposed a bonus issue with free detachable warrants.</p></div>

<div class=newsTextDataWrapInner><p>The bonus issue of 55.74 million shares will be offered on the basis of one bonus share, together with one warrant, for every five existing shares held, said the group in a filing today.</p></div>

<div class=newsTextDataWrapInner><p>The warrants will be convertible to HIL shares on a one-for-one basis, with a 10-year tenure from the date of issuance.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"The proposed bonus issue will use RM27.87 million from the company's share premium and retained earnings account," said HIL. As at end-2016, the group's share premium and retained profits stood at RM1.28 million and RM121.28 million, respectively.</p></div>

<div class=newsTextDataWrapInner><p>The exercise price of the warrants, said HIL, will take into consideration the historical price of HIL shares, the shares' five-day volume weighted average market price preceding the price-fixing date and theoretical ex-bonus price of HIL shares, among others.</p></div>

<div class=newsTextDataWrapInner><p>The bonus issue with warrants is expected to be completed by the third quarter of 2017, said HIL.</p></div>

<div class=newsTextDataWrapInner><p>HIL's share price gained 10 sen or 9.09% to close at RM1.20 today, breaking its all-time high of RM1.14 recorded on April 24. It has a market capitalisation of RM337.47 million at present.</p></div>

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KUALA LUMPUR (June 2): Property developer HIL Industries Bhd, which saw its share price hit another all-time high today, has proposed a bonus issue with free detachable warrants.

The bonus issue of 55.74 million shares will be offered on the basis of one bonus share, together with one w...

HIL Industries proposes 1-for-5 bonus issue with warrants

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