Flash: Poultry farmer Lay Hong Bhd has proposed a private placement of up to 15.75 million new shares or 30% of the company's enlarged share capital, a filing to Bursa Malaysia revealed this evening (Wednesday, Feb 4).

It has also proposed to terminate the existing executive share option scheme, to be replaced with a new share issuance scheme of up to 15% of its issued share capital for eligible directors and employees of the holding company and subsidiaries.