YTL’s warrants bonus issue gets the nod

PETALING JAYA: YTL Corp Bhd and YTL Power International Bhd’s recent proposal for a bonus issue of warrants received strong support from their shareholders during EGMs held yesterday.

Supported by over 98% of the shareholders, the companies said in a statement that the entitlement date would be determined and announced at a later date.

Under the proposal, YTL Corp will issue up to 2.27 billion free warrants on the basis of one warrant for every five shares held with an exercise price of RM1.50 per warrant.

Meanwhile, YTL Power will issue up to 1.67 billion free warrants, also on a one-for-five basis, with each warrant exercisable at RM2.45.

The warrants are designed to reward long-term shareholders and meet the future funding requirements of YTL Corp and YTL Power.