Now only I understand:
4 Scomi- LA = 1 Scomi (after 3 years)
Scomi-LA Current price 4*0.10 = 0.40
Scomi Mother Current price = 0.45
A discount. He he he. Nextrade correct.
4000 Scomi-LA exchangeable to 1000 shares.
General Announcement (20091215GA00132)
Company Name SCOMI GRP BHD-ICSLS 09/12
Stock Code / Short Name 7158LA / SCOMI-LA
Date & Time Announce 15/12/2009 5:44:00 PM
Subject Profile for Loan Stocks
Content
Instrument Type : Loan Stocks
Description : THREE (3)-YEAR 4% IRREDEEMABLE CONVERTIBLE SECURED LOAN STOCKS
(ICSLS)
Listing Date : 16/12/2009
Issue Date : 14/12/2009
Issue/ Ask Price : MYR 0.1000
Issue Size in Currency : MYR 151579679.1000
Maturity Date : 14/12/2012
Revised Maturity Date :
Exercise/Conversion Period Type : 3 Year(s)
Revised Exercise/Conversion Period Type : 0 Year(s)
Exercise/ Strike/ Conversion Price : MYR 0.4000
Exercise/ Conversion Ratio : Please refer to remarks.
Mode of Satisfaction of Exercise/Conversion Price : Tendering of securities
Settlement Type/ Convertible into : Physical (Shares)
Remarks : Each registered holder of the ICSLS shall have the right at any time
during the conversion period to convert such amount of ICSLS held into fully
paid new ordinary shares of RM0.10 each in Scomi Group Bhd ("SGB Shares") at
the conversion price of RM0.40 per SGB Share.
The conversion of the ICSLS will not require any cash payment by the ICSLS holder. The conversion price will be satisfied by surrendering for cancellation
the ICSLS with an aggregate nominal value equivalent to the conversion price.
Any fractional SGB Shares arising from the conversion of the ICSLS shall be
disregarded.
The ICSLS are not redeemable (save upon declaration of an event of default). At
the end of the tenure, any outstanding ICSLS will be automatically converted
into new SGB Shares at the conversion price.
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