The warrant of soon to expire Silver Bird Group Berhad (SILVER-WA) has been hovering between 3 to 6 sen over the least 30 days. As the warrant is expiring on 19th September 2010 and the exercise price is so close to the current share price, SILVER-WA speculative appeal is quite strong especially when the company announced that it will encourage the company’s warrants holders to exercise their warrants as a possible solution to its public shareholding spread requirement.
According to Silver Bird’s announcement on 30th June 2010, the percentage of the company’s public shareholding spread is 20.20%. This is below Bursa Malaysia requirement of minimum 25% public shareholding spread. To fulfill the shareholding requirement, Silver Bird has announced that it plan to explore the following actions:
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