Interra Resources proposes bonus and piggyback warrants

Singapore

ONSHORE oil and gas producer Interra Resources is proposing a warrant issue to reward its shareholders and raise funds for the company.

The firm will issue one free bonus warrant for every 10 existing ordinary shares and one unlisted piggyback warrant for every two bonus warrants exercised.

A shareholder with one lot of 1,000 shares will therefore receive 150 new shares in total, assuming that he exercises all of his 100 bonus warrants and also the subsequent 50 piggyback warrants…