KUCHING: Ocean Vantage Holdings Bhd (OVH) has proposed issuing up to 209.9 million free detachable warrants on a one-for-two basis, alongside a new share issuance scheme (SIS) covering up to 30 per cent of total issued shares (excluding treasury shares) for eligible directors and employees.
The warrants will have a three-year tenure, with an indicative exercise price of RM0.19—representing a 35 per cent premium to the 5-day volume weighted average price VWAP of RM0.1407.
If fully exercised, the warrants could raise up to RM39.89 million for working capital.
OVH said the SIS shares, once issued, will also be used for general working capital.
The Sarawak-based group is involved in engineering, procurement and construction (EPC), manpower supply and rig charter services.
Citing a rise in pipeline installation projects and growing EPC opportunities in Sarawak, OVH expects to benefit from increased state involvement through Petros, especially in downstream expansion, gas development and carbon capture initiatives.
The group is also targeting market expansion in South America and Asia Pacific, while exploring opportunities across the energy value chain and diversifying into power generation.
It remains focused on operational efficiency and active participation in East Malaysian EPC tenders.
