A more thorough explanation:

A share-warrant to bearer is a type of financial instrument that entitles the bearer to a certain number of fully paid stock shares. When the warrant is delivered, it is considered a transfer of the shares of stock.

Let's say that Company A issues a share-warrant to bearer for 100 fully paid stock shares. The warrant is purchased by John, who becomes the bearer of the warrant. John can then sell or transfer the warrant to someone else, who will become the new bearer and be entitled to the 100 stock shares.

Another example would be if a company issues a share-warrant to bearer for 500 fully paid stock shares. The warrant is purchased by a group of investors who become the bearers of the warrant. They can then divide the shares among themselves or sell the warrant to someone else.

These examples illustrate how a share-warrant to bearer works. The bearer of the warrant has the right to the stock shares, and the warrant can be bought and sold like any other financial instrument.