Because Abric WB conversion price is same as the par value of the share of 30 cents, conversion price can not be lower than the par value of the share.
Mahsing par value is at RM 1, so it can adjusted to minimum to RM 1, in this case only adjusted to 1.80 still have room to adjust.
ABRIC WB -Overview
| Type: | Warrants |
| Sector: | |
| Listing Date: | Apr 13, 2011 |
| Maturity Date: | Apr 07, 2016 |
| Issue Size: | 49,526,250 |
| Exercise Price: | MYR 0.30 |
| Ratio: | 1 warrant :1 ordinary share |
| Underlying Stock: | ABRIC |
Mahsing WB -Overview
| Type: | Warrants |
| Sector: | |
| Listing Date: | Mar 22, 2013 |
| Maturity Date: | Mar 18, 2018 |
| Issue Size: | 168,059,241 |
| Exercise Price: | MYR 1.98 |
| Ratio: | 1 warrant :1 ordinary share |
| Underlying Stock: | MAHSING |
| Avg Volume (4 weeks): | 437,511 |
| 4 Weeks Range: | 0.27 - 0.33 |
| 52 Weeks Range: | 0.22 - 0.65 |
MAHSING-WB - NOTICE OF BOOK CLOSURE
| MAH SING GROUP BERHAD |
LISTING'S CIRCULAR NO. L/Q : 72327 OF 2015
Adjustment to the number of outstanding 2013/2018 warrants of Mah Sing Group Berhad (“Mah Sing”) , constituted by a deed poll dated 18 February 2013 (“Warrant B Deed Poll”) and expiring on 18 March 2018 (“Warrant B 2013/2018”) and the exercise price for the Warrant B 2013/2018 made in accordance with the provisions under the Warrant B Deed Poll consequential to a renounceable rights issue of 442,882,936 new ordinary shares of RM0.50 each in Mah Sing (“Mah Sing Shares”) (“Rights Shares”) together with 132,864,880 free detachable warrants (“Warrants”), subject to the issued and paid-up share capital of Mah Sing at 5.00 p.m. on 26 January 2015 (“Entitlement Date”), on the basis of 3 Rights Shares for every 10 existing Mah Sing Shares held and 3 Warrants for every 10 Rights Shares subscribed for by the entitled shareholders of Mah Sing as at 5.00 p.m. on the Entitlement Date (“Entitled Shareholders”), at an issue price of RM1.42 per Rights Share (“Rights Issue with Warrants”).
Kindly be advised of the following :
1) The above Company's securities will be traded and quoted [ "Ex – Adjustment" ]
as from : [ 22 January 2015 ]
2) The last date of lodgement : [ 26 January 2015 ]
Remarks :- On 12 January 2015, the Notice of Book Closure has been separately announced for the Rights Issue with Warrants.
The holders of Warrant B 2013/2018 who do not exercise their Warrant B 2013/2018 and subsequently whose names appear in the Register of Warrant B holders by 5.00 p.m. on 26 January 2015 (being the Entitlement Date) shall accordingly be entitled to the Adjustments (as defined below).
Effective on 27 January 2015 (being 1 market day after the Entitlement Date), the number of outstanding Warrant B 2013/2018 and the exercise price for such Warrant B 2013/2018 shall be adjusted in accordance with the provisions under the Warrant B Deed Poll (“Adjustments”). Holders of Warrant B 2013/2018 whose names appear in the Record of Depositors for Mah Sing for Warrant B 2013/2018 at 5.00 p.m. on 26 January 2015 will be entitled to receive the additional Warrant B 2013/2018 arising from the Adjustments.
Pursuant to the Adjustments, for illustrative purposes, holders of outstanding Warrant B 2013/2018 holding 1,000 outstanding Warrant B 2013/2018 will have the exercise price of the outstanding Warrant B 2013/2018 adjusted from RM1.98 per warrant to RM1.80 per warrant and the number of outstanding Warrant B 2013/2018 adjusted to 1,095 outstanding Warrant B 2013/2018 from the existing 1,000 outstanding Warrant B 2013/2018 held.
The additional Warrant B 2013/2018, as a result of the Adjustments, shall be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 26 February 2015. A notification to the Warrant holders setting out the details of such Adjustments will be despatched to the Warrant Holders in due course.