We wish to announce that PCHEM-C43 had expired at 9.00 a.m. on 21 September 2020 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of PCHEM-C43 exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of PCHEM-C43 exercised x (1/6.5) x (RM5.6033 - RM7.8800) 
= Number of PCHEM-C43 exercised x RM0.0000 

The Closing Price of RM5.6033 is the average daily volume weighted average price (VWAP) of the ordinary shares of PCHEM for the five (5) market days prior to and including the market day immediately before the Expiry Date. The PCHEM-C43 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 PCHEM-C43 will cease to be valid and all our obligations in respect to PCHEM-C43 shall terminate absolutely.


This announcement is dated 21 September 2020.