Lion Corp Bhd will not proceed with its proposed rights issue of warrants. The company said, “The rationale for the proposed rights issue of warrants was to provide an opportunity to existing shareholders to partially restore their equity interest in Lion Corp. However the disparity between Lion Corp’s shaer price of 28 sen and the warrants exercise price of RM1 had not been conducive for the company to implement the scheme.” As a result, Lion Corp will make an application to Bursa Malaysia to reclassify its shares. (BMSB)
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