We wish to announce that SUNWAY-CV had expired at 9.00 a.m. on 16 March 2020 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of SUNWAY-CV exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of SUNWAY-CV exercised x (1/2) x (RM1.6676 - RM1.8800) 
= Number of SUNWAY-CV exercised x RM0.0000 

The Closing Price of RM1.6676 is the average daily volume weighted average price (VWAP) of the ordinary shares of SUNWAY for the five (5) market days prior to and including the market day immediately before the Expiry Date. The SUNWAY-CV is deemed to have been automatically exercised on 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 SUNWAY-CV will cease to be valid and all our obligations in respect to SUNWAY-CV shall terminate absolutely.


This announcement is dated 16 March 2020.