CCM Group

CCM Group: Incorporated wholly-owned subsidiary CCM Property for group's diversification into property development. The diversification is part of CCM's strategy to tap into the property market value chain as part of its growth initiatives, as well as being complimentary to its current core business in construction. The proposed diversification will be funded via a $5m issue of three-year 18% secured redeemable exchangeable notes. In addition, CCM also proposed a issue of bonus warrants on the basis of 10-for-1 at issue price of $0.01, attached with piggyback warrants on the basis of 1-for-1 at issue price of $0.011. Gross proceeds of up to $41m will be raised from both exchangeable notes and issue of warrants.