Based on conservation predictive model, the indicative fair value of the warrant is 5 sen.
In summary.
total cost to buy right for right is 2sen x 4 WCE-PR = 8sen
total subscription for RCPS is 4 x RCPS x 24sen = 96sen
total subscription to convert into NEW WCE share = 4 RCPS x 4sen
Grand total cost = 120sen
total FREE warrant 1 x fair indicative price = 5 sen
Grand total NETT cost to convert into new 4 WCE share
total cost 120sen - FREE warrant 5sen = 115 sen
Therefore, each NEW WCE to be convert from RCPS is 28.75sen/NEW WCE share,
Market WCE price now is 31sen.
Worth to bet 28.75 vs 31 sen???
What if WCE mother down??
Remark: RCPS once listed can be at anytime convert into new WCE share by topping 4sen for each RCPS to get 1 New WCE within 2 year tenure of listing.
Source: https://klse.i3investor.com/servlets/cube/post/hng33.jsp