DRB C22 last day of closing price is 0.225.
Settlement is 0.2069, sipeh pandai.
STRUCTURED WARRANTS ANNOUNCEMENT : FINAL SETTLEMENT
|DRBHCOMC22: CW DRB-HICOM BHD (KIBB)|
|Subject||STRUCTURED WARRANTS ANNOUNCEMENT|
KENANGA INVESTMENT BANK BERHAD ("KIBB") EXPIRY OF EUROPEAN-STYLE NON-COLLATERALISED CASH SETTLED CALL WARRANTS OVER ORDINARY SHARES OF DRB-HICOM BERHAD ("DRBHCOM") ("DRBHCOMC22")
We wish to announce that DRBHCOMC22 had expired at 9.00 a.m. on 17 February 2017 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:
Cash Settlement Amount
= Number of DRBHCOMC22 exercised x (1/Exercise Ratio) x (Closing Price – Exercise Price)
= Number of DRBHCOMC22 exercised x (1/ 1.5) x (RM1.3104 - RM1.0000)
= Number of DRBHCOMC22 exercised x RM0.2069
The Closing Price of RM1.3104 is the average daily volume weighted average price (VWAP) of the ordinary shares of DRBHCOM for the five (5) market days prior to and including the market day immediately before the Expiry Date. The DRBHCOMC22 is deemed to have been automatically exercised on the Expiry Date.
The Cash Settlement Amount will be delivered to the warrantholders by ordinary post within seven (7) market days from the Expiry Date.
This announcement is dated 17 February 2017.