CLIPSAL Industries (Holdings), listed in Singapore and 68.17 per cent owned by Gold Peak Industries (Holdings), says it is proposing to raise about US$25.75 million through a $25 million transferable loan facility to be granted by Morgan Grenfell (Asia). Morgan Grenfell will receive 9.05 million Clipsal detachable warrants to subscribe for new ordinary shares at 60 Singapore cents each. Morgan Grenfell will offer the warrants to Clipsal shareholders on the basis of one warrant for every five shares at a price of US62.5 cents. Gold Peak has undertaken to subscribe in full for about 6.17 million warrants for US$3.86 million.
