Solar District Cooling Group Berhad (“SDCG” or the “Company”), an established provider of building management systems (“BMS”), solar thermal systems and energy-saving services, today announced that shareholders have approved all resolutions tabled at its Extraordinary General Meeting (“EGM”).
The approved proposals include a bonus issue of up to 211.9 million free warrants on the basis of one (1) warrant for every two (2) existing shares held, as well as the establishment of an Employee Share Option Scheme (“ESOS”) of up to 10% of the Company’s issued share capital.
The bonus issue of warrants allows shareholders to participate in the Company’s future growth through tradable convertible securities issued at no cost, while providing SDCG with the flexibility to strengthen its capital base as and when the warrants are exercised.
Proceeds arising from the exercise of the warrants, if any, are intended to be utilised primarily for working capital requirements, including procurement of materials, project execution and operational expenses, in line with the Group’s business activities.
At the same time, the ESOS is designed to recognise and reward the contribution of employees and directors, while motivating performance and strengthening long-term commitment to the Group. The scheme also aligns the interests of key personnel with shareholders, supporting the Company’s ability to execute its growth strategies effectively.
The ESOS will be implemented progressively and is subject to allocation safeguards in accordance with its by-laws.
Managing Director of SDCG, Mr. Edison Kong commented,
“The approval of these proposals marks an important step in strengthening our capital flexibility and aligning our team with the Company’s long-term objectives. The warrants provide us with the ability to raise funds when needed to support our operations, while the ESOS ensures we continue to attract, retain and motivate the right talent to drive our business forward.
As demand for energy efficiency and sustainable solutions continues to grow, particularly in areas such as BMS and solar thermal systems, we are well-positioned to capture these opportunities. These initiatives will support our ongoing efforts to deliver sustainable growth and create long-term value for our shareholders.”
The EGM also included the approval of specific ESOS allocations to eligible directors and key senior management, in accordance with the scheme’s by-laws and governance framework.
With the completion of the EGM, SDCG remains focused on executing its growth plans, supported by a solid order book, expanding recurring income base, and increasing opportunities across both public and private sectors.
For more information, visit www.sdc.my
