We wish to announce that the IJM-CG expired at 5.00 p.m. on 29 February 2012 (“Expiry Date”) and the Cash Settlement Amount shall be calculated as below.
Cash Settlement Amount | = | Number of IJM-CG x (Closing Price – Exercise Price) x (1/Exercise Ratio) |
| = | Number of IJM-CG x (RM5.9460 – RM6.50) x (1/8) |
The Closing Price of RM5.9460 is the average of the closing price of IJM shares for the 5 market days prior to and including the market day immediately before the Expiry Date.
As the Cash Settlement Amount is less than zero, warrantholders will not be entitled to receive any payment from us and all outstanding and unexercised IJM-CG will cease to be valid and all our obligations in respect of the IJM-CG shall terminate absolutely.
This announcement is dated 29 February 2012.