We wish to announce that SPSETIA-C23 had expired at 9.00 a.m. on 7 September 2020 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of SPSETIA-C23 exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of SPSETIA-C23 exercised x (1/2) x (RM0.7996 - RM1.7000) 
= Number of SPSETIA-C23 exercised x RM0.0000 

The Closing Price of RM0.7996 is the average daily volume weighted average price (VWAP) of the ordinary shares of SPSETIA for the five (5) market days prior to and including the market day immediately before the Expiry Date. The SPSETIA-C23 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 SPSETIA-C23 will cease to be valid and all our obligations in respect to SPSETIA-C23 shall terminate absolutely.


This announcement is dated 7 September 2020.