WCT restructuring - apa u buat???
WCT proposed an internal restructuring exercise involving the creation of WCT
Holdings (WCTH), which will assume the listing status of WCT Berhad
(WCTB). The group’s existing key business segments, i.e. construction,
property development, property investment and concessions, will remain under
WCTB and WCT Land. The shareholding structure post restructuring will be
unchanged. All ownership of shares and warrants will be exchanged between
WCTB and WCTH on a 1-for-1 basis. WCTB’s ESOS will be terminated
accordingly. The consent of all lenders/bond holders of WCTB may be required
as the exercise may involve novating WCTB’s borrowings to WCTH, where ever
applicable. The internal reorganisation is targeted to be completed in 2Q13.
(BMSB)