Paramount (KLSE:PARAMON) said it redeemed 50 million ringgit in nominal value of perpetual securities, issued on Oct. 23, 2019, under the company's perpetual securities program.

The redemption shall be canceled and may not be re-issued or re-sold, according to a Wednesday Malaysian bourse filing.

Following the exercise, the remaining outstanding perpetual securities now stand at 50 million ringgit in nominal value.

Shares slid about 2% recently.

Price (MYR): $1.05, Change: $-0.020, Percent Change: -1.87%