The exercise, aimed at increasing the group's share capital and reward existing shareholders, will see an issuance of up to 77.8 million new ordinary shares of RM1 par and up to 77.8 million five-year warrants, it said in a statement.
The maximum scenario is dependent on the exercise of outstanding options under the group's Employee Share Option Scheme, it added.
The bonus shares will effectively increase Matrix Concepts' share capital up to a maximum of RM544.8 million, comprising 544.8 million shares of RM1 par, from 461.4 million shares currently.
The five-year warrants meanwhile are expected to eventually increase the share capital by an additional RM77.8 million, assuming full exercise of the warrants during the five-year tenure.
Chairman Datuk Mohamad Haslah Mohamad Amin said the increased capital through the exercise of warrants over the next five years would also translate into additional working capital to finance the group's ongoing and future projects.
The exercise price of the warrants and the expected proceeds will be determined at a later date.
The corporate exercise is subject to shareholders' approval during an extraordinary general meeting to be convened later.
Kenanga Investment Bank Berhad is the adviser for the corporate exercise.
Matrix Concepts is currently undertaking several projects, mainly at its two flagship townships - Bandar Sri Sendayan in Seremban and Taman Seri Impian in Kluang.
-- BERNAMA
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