Structured Warrants - Final Settlement
31/05/2021Structured Warrants - Final Settlement
| TOPGLOV-C83: CW TOP GLOVE CORPORATION BHD (KIBB) |
| Description | EXPIRY OF EUROPEAN STYLE NON-COLLATERALISED CASH-SETTLED CALL WARRANTS OVER ORDINARY SHARES OF TOP GLOVE CORPORATION BHD ("TOPGLOV") ("TOPGLOV-C83") |
| Instrument Type | CALL WARRANTS |
| Exercise Style | European |
| Settlement Type | Cash |
| Date & Time of Expiry | 31 May 2021 09:00 AM |
| Securities Debiting Date | |
| Settlement Indicator | Out of the Money/At the Money |
We wish to announce that TOPGLOV-C83 had expired at 9.00 a.m. on 31 May 2021 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:
Cash Settlement Amount
= Number of TOPGLOV-C83 exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price)
= Number of TOPGLOV-C83 exercised x (1/6) x (RM5.1996 - RM6.9600)
= Number of TOPGLOV-C83 exercised x RM0.0000
The Closing Price of RM5.1996 is the average daily volume weighted average price (VWAP) of the ordinary shares of TOPGLOV for the five (5) market days prior to and including the market day immediately before the Expiry Date. The TOPGLOV-C83 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 TOPGLOV-C83 will cease to be valid and all our obligations in respect to TOPGLOV-C83 shall terminate absolutely.
This announcement is dated 31 May 2021. |
Announcement Info
| Company Name | TOPGLOV-C83: CW TOP GLOVE CORPORATION BHD (KIBB) |
| Stock Name | TOPGLOV-C83 |
| Date Announced | 31 May 2021 |
| Category | Structured Warrants - Final Settlement |
| Reference Number | SWF-31052021-00023 |
| Corporate Action ID | MY210531EXWA0023 |