Announcement Details/Table Section :
We are pleased to announce that KENCANA-CJ have expired at 9.01 a.m. on 27 April 2012 ("Expiry Date") and the warrantholders shall be entitled to the Cash Settlement Amount (per KENCANA-CJ) (if the said amount is greater than zero), determined in accordance to the following formula:
Settlement Price – Exercise Price | − | Exercise Expenses |
Exercise Ratio |
The Settlement Price has been determined at RM 3.3300 being the arithmetic mean of the closing price of KENCANA shares on Bursa Malaysia Securities Berhad for the five (5) scheduled market days prior to and including the market day before the Expiry Date. | Cash Settlement Amount |
| = | {(Settlement Price – Exercise Price) / Exercise Ratio} x Number of KENCANA-CJ exercised – Exercise Expenses* |
| = | {(RM 3.3300 - RM 2.6500) / 4.00 } x Number of KENCANA-CJ exercised – Exercise Expenses* |
| = | RM 0.1700 x Number of KENCANA-CJ exercised – Exercise Expenses* |
* Equivalent to 0.30% of the intrinsic value.
The Cash Settlement Amount shall be paid to the warrantholders within seven (7) market days from the Expiry Date.
This announcement is dated 27 April 2012.