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You sell, I buy. Let's say it closed at RM3.20 before ex-date. Bought 1,000 units will become 2,000 units due to bonus issues of 1 for 1. Then will get free warrants of 1,000 units due to free warrants of 1 for 2. Warrant exercise price at 80 sen and mother share price after ex-date will be adjusted to RM1.60 (RM3.20 divided by 2). So, each free warrants will be worth at least 80 sen (Mother price minus warrants exercise price). RM0.80 divided by RM3.20 equal to 25% GAIN!