SCOMI warrant is considered cheap.
If you think scomi can go beyond 56 cents or you can see future value of scomi,
Then you might consider to buy scomi-wa.
Conversion is 40 cents + 0.16 = 0.56 cents
Alex Lu prefer SCOMI-LA than SCOMI-WA,
But I don't understand how he get discount of 9.7 %??
0.105 * 1000 =105 + 400 = 505 = 0.505 cents meh mother is 0.465 mana ada discount??
Maybe have to count the 4 % interest gua???
http://nexttrade.blogspot.com/2009/12/scomi-la-scomi-wa-listed.html
General Announcement (20091215GA00133)
Company Name SCOMI GRP BHD-WARRANTS 09/12
Stock Code / Short Name 7158WA / SCOMI-WA
Date & Time Announce 15/12/2009 5:45:00 PM
Subject Profile for Warrants
Content
Instrument Type : Warrants
Description : FREE DETACHABLE WARRANTS ("WARRANTS") ISSUED PURSUANT TO THE
RENOUNCEABLE RIGHTS ISSUE OF RM151,579,679.10 NOMINAL VALUE OF THREE (3)-YEAR
4% IRREDEEMABLE CONVERTIBLE SECURED LOAN STOCKS ("ICSLS") AT 100% OF ITS
NOMINAL VALUE ("RIGHTS ISSUE")
Listing Date : 16/12/2009
Issue Date : 14/12/2009
Issue Size in Unit : 202,106,238
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 : 1:1
Mode of Satisfaction of Exercise/Conversion Price : Cash
Settlement Type/ Convertible into : Physical (Shares)
Remarks : The Warrants are issued together with the ICSLS to the Entitled
Shareholders and/or their renouncee(s) who have subscribed for the Rights
Issue, at no cost. The successful applicants for every fifteen (15) ICSLS
subscribed are entitled to two (2) Warrants for free.
Each Warrant entitles the holder to subscribe for one (1) new ordinary share of
RM0.10 each in Scomi Group Bhd ("SGB" or the "Company") ("SGB Share") at the
exercise price of RM0.40 per SGB Share, subject to adjustments in accordance
with the provisions of the Deed Poll. Subject to the provisions of the Deed
Poll, the exercise price and/or number of Warrants held by each Warrant holder
may from time to time be adjusted, calculated or determined by the Board o
Directors in consultation with an approved investment bank or the auditors
appointed by the Company, in the event of alteration to the share capital of
the Company in accordance with the provisions as set out in the Deed Poll.
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