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WCT scraps offer for sale of 60m warrants for senior management in lieu of new ESOS

KUALA LUMPUR: WCT Bhd has decided to scrap a proposed offer for sale of 60 million warrants to senior management in favour of a new employees share option scheme (ESOS), it announced on Bursa Malaysia on Tuesday, Oct 5.

It said that ESOS was a better way of rewarding senior management for their dedication and loyalty, as well as encourage them to more actively engage in the group's operations and contribute to its growth.

The proposed offer for sale will now only entail the offering of up to 193.7 million warrants on a renouncable basis of one warrant for every five shares held.

The group said the new ESOS will only be undertaken after the expiry of the company's existing ESOS.
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