Structured Warrants - Final Settlement
12/10/2020Structured Warrants - Final Settlement
| HIBISCS-C12: CW HIBISCUS PETROLEUM BERHAD (KIBB) |
| Description | KENANGA INVESTMENT BANK BERHAD (''KIBB'')
EXPIRY OF EUROPEAN STYLE NON-COLLATERALISED CASH SETTLED CALL WARRANTS OVER ORDINARY SHARES OF HIBISCUS PETROLEUM BERHAD (''HIBISCS'') (''HIBISCS-C12'') |
| Instrument Type | CALL WARRANTS |
| Exercise Style | European |
| Settlement Type | Cash |
| Date & Time of Expiry | 12 Oct 2020 09:00 AM |
| Securities Debiting Date | |
| Settlement Indicator | Out of the Money/At the Money |
We wish to announce that HIBISCS-C12 had expired at 9.00 a.m. on 12 October 2020 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:
Cash Settlement Amount
= Number of HIBISCS-C12 exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price)
= Number of HIBISCS-C12 exercised x (1/2.5) x (RM0.5047 - RM1.0000)
= Number of HIBISCS-C12 exercised x RM0.0000
The Closing Price of RM0.5047 is the average daily volume weighted average price (VWAP) of the ordinary shares of HIBISCS for the five (5) market days prior to and including the market day immediately before the Expiry Date. The HIBISCS-C12 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 HIBISCS-C12 will cease to be valid and all our obligations in respect to HIBISCS-C12 shall terminate absolutely.
This announcement is dated 12 October 2020. |
Announcement Info
| Company Name | HIBISCS-C12: CW HIBISCUS PETROLEUM BERHAD (KIBB) |
| Stock Name | HIBISCS-C12 |
| Date Announced | 12 Oct 2020 |
| Category | Structured Warrants - Final Settlement |
| Reference Number | SWF-12102020-00008 |
| Corporate Action ID | MY201012EXWA0008 |