We are pleased to announce that SIME-C28 have expired at 9.01 a.m. on 24 April 2019 ("Expiry Date") and the warrant holders shall be entitled to the Cash Settlement Amount (per SIME-C28) (if the said amount is greater than zero).

The Settlement Price has been determined at RM 2.2840 being the arithmetic mean of the closing price of SIME 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 SIME-C28 exercised – 0.30%

= {(RM 2.2840 – RM 2.7800) / 2.5} x Number of SIME-C28 exercised – 0.30%

= RM 0.0000 x Number of SIME-C28 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 24 April 2019.