Hai Leck

Hai Leck: proposed a renounceable non-underwritten 1-for-4 rights-cum-warrants issue. The warrants have an issue price of $0.05, and an exercise price of $0.13. The Cheng family, with an aggregate 67.8% stake has given irrevocable undertakings to subscribe for the warrants. Net proceeds of ~$3.9m from the grant of the warrants issue will be used to finance the Group’s business expansion and enlarge working capital. Hai Leck shares last traded at $0.178, +4.7%.