IJM to extend RB Land warrants offer

PETALING JAYA: IJM Corp Bhd has proposed to extend the offer of RB Land Bhd warrants to all eligible employees of the IJM group instead of only to senior management.

The offer price for the 60 million warrants has been set at 39 sen.

The allocation of the warrants would be based on the employment category and grade of the respective eligible employee subject to length of service with IJM group.

An employee who fulfils the predetermined conditions as at the entitlement date to be determined shall be eligible to subscribe for the warrants.

IJM Corp said in its announcement yesterday the proposed offer would raise gross proceeds of about RM23.4mil, of which RM21.3mil would be used for working capital and RM2.1mil to cover expenses of its on-going rationalisation exercise.