We are pleased to announce that TOPGLOV-C53 have expired at 9.00 a.m. on 26 November 2019 ("Expiry Date") and the warrant holders shall be entitled to the Cash Settlement Amount (per TOPGLOV-C53) (if the said amount is greater than zero).

The Settlement Price has been determined at RM 4.5960 being the arithmetic mean of the closing price of TOPGLOV 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 TOPGLOV-C53 exercised – 0.30%

= {(RM 4.5960 – RM 4.8000) / 5.5 } x  Number of TOPGLOV-C53 exercised – 0.30%

= RM 0.0000 x Number of TOPGLOV-C53 exercised – 0.30%

As the Settlement Price is less than the Exercise Price, the Cash Settlement Amount is negative.

Warrant holders will not be entitled to receive any payment of the Cash Settlement Amount.

This announcement is dated 26 November 2019.