We wish to announce that AXIATA-C51 had expired at 9.00 a.m. on 9 November 2020 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of AXIATA-C51 exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of AXIATA-C51 exercised x (1/5) x (RM3.0145 - RM4.3000) 
= Number of AXIATA-C51 exercised x RM0.0000 

The Closing Price of RM3.0145 is the average daily volume weighted average price (VWAP) of the ordinary shares of AXIATA for the five (5) market days prior to and including the market day immediately before the Expiry Date. The AXIATA-C51 is deemed to have been automatically exercised on the Expiry Date.

As the Cash Settlement Amount is less than Zero, warrantholders will not be entitled to receive any payment from us and all outstanding and unexercised AXIATA-C51 will cease to be valid and all our obligations in respect to AXIATA-C51 shall terminate absolutely.


This announcement is dated 9 November 2020.