Global Green 1 bonus warrant for 5 shares

Global Green Tech Group Limited (0274) announced its plan of a conditional bonus issue of warrants on the basis of one warrant for every five company shares held. The initial subscription price is $2.5 per share. The warrant holders can exercise from the period since 22 October, 2002 to 30 December, 2003, both days inclusive. Full exercise of the warrants at the initial subscription price would result in the issue of a total of approximately 54.12 million new shares. The proceeds amount to about $135.3 million before expenses. The new shares represent 16.67% of the enlarged issued share capital of the company. The exercise price represents a premium of about 33.69% to the closing price yesterday.

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