Cosmos Machinery Enterprises proposed to issue 1-for-5 bonus warrants

The board meeting of Cosmos Machinery Enterprises (0118) made a resolution to issue bonus warrants to the shareholder on a proportion of 1 warrant for 5 held shares. Only that the resolution needed to be proved at the board meeting. The warrants holders might subscribe 1 Cosmos Machinery share at HK$0.4 each during the period between June 11, 2001 and June 10, 2003, according to the resolution. The subscription price was 3.6% discount to the closing price of last Friday. If all the warrants were exercised at HK$0.4 each, Cosmos Machinery need to issue 128 mln shares, accounting for 16.67% of the existing issued shares. The dealing unit for the warrant will be 20,000 shares.

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