Bermuda National, parent company of Bermuda Commercial Bank, has announced a bonus warrants issue, which it says will provide it with “a flexible funding structure”.The financial services investment holding company said Friday that it proposes to make a Bonus Warrant Issue to qualifying shareholders on the basis of one Bonus Warrant for every three shares held.Some 2,902,349 Bonus Warrants will be issued, which if fully exercised, would represent approximately 25 percent of BNL’s enlarged issued share capital.The Bonus Warrants will be listed on the Bermuda Stock Exchange and each Bonus Warrant will entitle the qualifying shareholder to subscribe for one Bonus Warrant Share at a subscription price of US$12 per share (equal to the average trading price of the company’s shares as listed on the BSX at the close of trading over the last 30 business days).BNL said Bonus Warrants will be exercisable at any time from the issue date, February 11, 2013, to September 30, 2013.BNL said the Bonus Warrant Issue provides shareholders the opportunity to participate in the growth of BNL and also provide the company “with a flexible funding structure in order to make corporate investments and acquisitions in the future”.BNL chairman Warren McLeland, said: “The Bonus Warrant Issue offers an opportunity to those shareholders who would like to further participate in the growth of the company. It provides BNL with a flexible funding structure and one which will enable the company to move forward with its stated strategy to make corporate investments and acquisitions in the financial services sector.”