Profile for Warrants
| N2N CONNECT BERHAD |
|
Instrument Type | Warrants |
| Description | Renounceable rights issue of up to 108,110,000 five (5)-year warrants 2013/2018 (“Warrants”) at an issue price of RM0.02 for each Warrant on the basis of one (1) Warrant for every three (3) existing ordinary shares of RM0.10 each in N2N Connect Berhad (“N2N Shares”) held at 5.00 p.m. on 19 March 2013 (“Rights Issue of Warrants”) |
| Listing Date | 11/04/2013 |
| Issue Date | 09/04/2013 |
| Issue/ Ask Price | MYR 0.0200 |
| Issue Size Indicator | Unit |
| Issue Size in Unit | 99,923,600 |
| Maturity Date | 08/04/2018 |
| Revised Maturity Date | |
| Exercise/ Conversion Period | 5.00Year(s) |
| Revised Exercise/ Conversion Period |  |
| Exercise/Strike/Conversion Price | MYR 0.3200 |
| Revised Exercise/Strike/Conversion Price | |
| Exercise/ Conversion Ratio | 1 Warrant : 1 N2N Share |
| Revised Exercise/ Conversion Ratio | |
| Mode of satisfaction of Exercise/ Conversion price | Cash |
| Settlement Type/ Convertible into | Physical (Shares) |
| Remarks : |
| For the first year from the date of issuance of the Warrants, the exercise price of RM0.32 per Warrant represents a discount of approximately 30% or RM0.13 to the five (5)-day volume weighted average market price (“VWAMP”) of N2N Shares up to and including the market day immediately preceding the price fixing date of RM0.45 per N2N Share. Thereafter, the exercise price of the Warrants will be adjusted upwards on the first and third anniversary of the issuance of the Warrants under a step-up mechanism as described below: (i) upon issuance of the Warrants up to the date immediately preceding the first anniversary of the issuance of the Warrants, the exercise price is RM0.32 per Warrant, which represents a discount of approximately 30% to the five (5)-day VWAMP of N2N Shares up to and including the market day immediately preceding the price fixing date of RM0.45 per N2N Share; (ii) from the first anniversary of the issuance of the Warrants up to the date immediately preceding the third anniversary of the issuance of the Warrants, the exercise price is RM0.38 per Warrant, which represents a discount of approximately 15% to the five (5)-day VWAMP of N2N Shares up to and including the market day immediately preceding the price fixing date of RM0.45 per N2N Share; and (iii) from the third anniversary of the issuance of the Warrants up to and including the expiry date of the Warrants, the exercise price is RM0.45 per Warrant, which is on par with the five (5)-day VWAMP of N2N Shares up to and including the market day immediately preceding the price fixing date of RM0.45 per N2N Share. Each Warrant entitles the registered holder to subscribe for 1 new N2N Share at any time during the exercise period at the exercise price, subject to adjustments in accordance with the provisions of the deed poll dated 5 March 2013 constituting the Warrants. Warrants not exercised during the exercise period will lapse and thereafter cease to be valid for any purpose. |
Announcement Info
| Company Name | N2N CONNECT BERHAD (ACE Market) |
| Stock Name | N2N-WA |
| Date Announced | 9 Apr 2013 |
| Category | Listing Information & Profile |
| Reference No | OD-130409-40270 |