Corporate digest
Add BT as a preferred sourceASL Marine
ASL Marine is planning to issue warrants to noteholders and shareholders as part of its debt restructuring plan, with each warrant carrying a strike price of S$0.06 per share. The company is sticking with a proposed warrant issuance plan laid out on Dec 5 to holders of the company's S$100 milllion of 4.75 per cent notes due 2017, and S$50 million of 5.35 per cent notes due 2018.
Under the proposal, ASL Marine plans to issue two warrants for every dollar of outstanding principal amount for the 2017 notes, and 2.5 warrants for every dollar of outstanding principal amount for the 2018 notes. For shareholders, ASL Marine is planning to issue one warrant for every two existing shares held. Each warrant will carry the right to subscribe for one new share at an exercise price of S$0.06 per share.
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