<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 19): Cloudpoint Technology Bhd (KL:<a href="/askedge/klse/0277" class="ce-stock" target="_blank">CLOUDPT</a>) has proposed a bonus issue of one warrant for every two shares held in the IT solutions and technology services provider.</p></div>

<div class=newsTextDataWrapInner><p>The exercise involves the issuance of up to 265.8 million warrants, with a five-year tenure. The exercise price will be determined later, according to a bourse filing on Wednesday.</p></div>

<div class=newsTextDataWrapInner><p>Cloudpoint currently has a share base of 531.6 million shares and no outstanding warrants.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>If fully exercised over five years and based on an indicative exercise price of 40 sen apiece, the bonus warrants could raise up to RM106.32 million. Proceeds will be used to fund working capital.</p></div>

<div class=newsTextDataWrapInner><p>The 40 sen indicative exercise price represents a 15.09% discount to the five-day volume-weighted average market price of Cloudpoint shares up to Aug 10 of 47.11 sen, Cloudpoint noted.</p></div>

<div class=newsTextDataWrapInner><p>The proposal will require shareholders’ approval at an extraordinary general meeting to be held later.</p></div>

<div class=newsTextDataWrapInner><p>Cloudpoint anticipates completing the bonus issue of warrants by the fourth quarter of 2026.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Cloudpoint ended one sen or 2.02% lower at 48.5 sen, valuing the company at RM255.3 million.</p></div>


Cloudpoint Technology Bhd (KL:CLOUDPT) has proposed a bonus issue of one warrant for every two shares held in the IT solutions and technology services provider.

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