DeTeam Company (HKG:0065) said that it will place up to 146.376 million warrants at the issue price of HK$0.01 per warrant.

Assuming all the warrants are successfully placed out, the net proceeds from the warrant placing will be HK$1.31 million, which will be used as general working capital of the group.

The warrants' exercise price of HK$0.836 per share represents a premium of 5.82% to DeTeam's closing price of HK$0.79 per share yesterday. The 146.376 million warrant shares to be issued by the company upon full exercise of the subscription rights attaching to the warrants will represent 16.67% of the company's enlarged issued share capital.

Any additional proceeds from the allotment and issue of the warrant shares of up to a maximum amount of HK$122.37 million will be applied as general working capital and as funds for coal-related investments of the group.