Thursday 21 Nov 2024
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KUALA LUMPUR (Nov 6): Security-based ICT provider Datasonic Group Bhd (KL:DSONIC) has proposed to undertake bonus issues of up to 1.55 billion warrants on the basis of one warrant for every two shares held by shareholders.

"The proposed bonus warrants will not raise any immediate funds upon its issuance as the warrants will be issued at no cost by the company to the entitled shareholders," the company said in an exchange filing on Wednesday.

The entitlement date and the exercise price of the warrants will be announced later, said Datasonic.

Datasonic has also proposed an allocation of options under its employee share option scheme (ESOS) that was established in 2021 to its executive deputy chairman and CEO Datuk Abu Hanifah Noordin (who has an indirect stake of 8.35%), independent non-executive director Tunku Datuk Nooruddin Tunku Shahabuddin and executive director Erna Ismail.

Nooruddin and Erna joined the board less than three months ago. Nooruddin was appointed on Aug 22, while Erna on Oct 9. 

The company said the number of ESOS options to be offered will be determined at the discretion of its ESOS Committee after considering performance targets, appraisals and past and future contributions.

Malacca Securities has been appointed as the principal adviser for the proposals.

Shares of Datasonic closed up two sen or 5.13% to 41 sen on Wednesday, valuing the company at RM1.22 billion.

Edited ByS Kanagaraju
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