MSM - CA

Another manipulation by call warrant issuer.

Look at the price of MSM:

30-7-2012121315.030


27-7-201279455.100
26-7-2012104505.150
25-7-201281305.150
24-7-2012140505.190
23-7-201255305.200
20-7-20127295.200
19-7-20129115.210
18-7-20122295.200


MSM ex date 2012 - 07 - 31

Conversion RM 4.50

If based on closing price:

5.19 + 5.15+5.15+5.10+5.03 / 5 = 5.124 ( 5 days average price)

Ratio is 5 to 1

0.125*5 = 0.625

0.625+ 4.50 = 5.125

Basically you get back nothing if you buy at 0.125

Clever.