Can I assume that CME price need to be maintain at RM0.09 before the ICULS?
Basis of arriving at the issue price of the Rights ICULS and the conversion price of the ICULS The Rights ICULS shall be issued at 100% of the nominal value of RM0.04 each. The conversion price of the ICULS of RM0.10 for one (1) new CME Share was arrived at after taking into consideration, amongst others, the following: (i) par value of CME Shares of RM0.10 each; (ii) five (5)-day volume weighted average market price (“VWAMP”) up to and including the LPD of the CME Shares of RM0.0859 each; and (iii) the quantum of the gross proceeds to be raised for the funding requirements of the Proposed Acquisitions, repayment of bank borrowings, working capital and estimated expenses relating to the Proposals as set out in Section 2.3.6 of this Announcement.
For illustrative purposes, the conversion price of the ICULS of RM0.10 represents a premium of approximately RM0.0101 or 11.23% over the theoretical ex-rights price of CME Shares of RM0.0899 per CME Share, calculated based on the five (5)-day VWAMP of the CME Shares up to and including the LPD of RM0.0859 per CME Share. This is based on the conversion of surrendering RM0.10 nominal value of ICULS for one (1) new CME Share.
Stock: [CME]: CME GROUP BHD
2014-05-11 10:37 | Report Abuse
Can I assume that CME price need to be maintain at RM0.09 before the ICULS?
Basis of arriving at the issue price of the Rights ICULS and the conversion price of the ICULS
The Rights ICULS shall be issued at 100% of the nominal value of RM0.04 each. The conversion price of the ICULS of RM0.10 for one (1) new CME Share was arrived at after taking into consideration, amongst others, the following:
(i) par value of CME Shares of RM0.10 each;
(ii) five (5)-day volume weighted average market price (“VWAMP”) up to and including the LPD of the CME Shares of RM0.0859 each; and
(iii) the quantum of the gross proceeds to be raised for the funding requirements of the Proposed Acquisitions, repayment of bank borrowings, working capital and estimated expenses relating to the Proposals as set out in Section 2.3.6 of this Announcement.
For illustrative purposes, the conversion price of the ICULS of RM0.10 represents a premium of approximately RM0.0101 or 11.23% over the theoretical ex-rights price of CME Shares of RM0.0899 per CME Share, calculated based on the five (5)-day VWAMP of the CME Shares up to and including the LPD of RM0.0859 per CME Share. This is based on the conversion of surrendering RM0.10 nominal value of ICULS for one (1) new CME Share.