ITMAX-CA

0.345

(%)

Structured Warrants - Final Settlement

ITMAX-CA: CW ITMAX SYSTEM BERHAD (MIBB)

Description
MAYBANK INVESTMENT BANK BERHAD ("MAYBANK IB") 
		
EXPIRY OF EUROPEAN STYLE NON-COLLATERALISED CASH SETTLED CALL WARRANTS OVER THE ORDINARY SHARES OF ITMAX SYSTEM BERHAD ("ITMAX") ("ITMAX SHARE(S)") ("ITMAX-CA")
Instrument Type CALL WARRANTS
Exercise Style European
Settlement Type Cash
Date & Time of Expiry 29 Mar 2024 09:00 AM
Securities Debiting Date
Settlement Indicator In the money
Cash Entitlement
Cash Settlement Amount (Per Unit) Malaysian Ringgit (MYR) 0.3093
Payment Date 09 Apr 2024

We wish to announce that ITMAX-CA expired at 9.00 a.m. on 29 March 2024 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below.
Cash Settlement Amount
= Number of ITMAX-CA x (1/Entitlement) x (Settlement Price - Exercise Price) - Exercise Expenses*
= Number of ITMAX-CA x (1/3.0000) x (RM2.3078 - RM1.3800) - Exercise Expenses*
= Number of ITMAX-CA x RM0.3093 - Exercise Expenses*
* Exercise Expenses for every one (1) unit of structured warrants is equivalent to 0.3% of 1/Entitlement x (Settlement Price - Exercise Price). The Exercise Expenses are subject to tax or duties which are incurred in respect of or in connection with the exercise of Structured Warrants and includes without limitation to any sales or service tax (and includes any value added, consumption, goods and services or other tax imposed by the government on goods and services in Malaysia).
The Settlement Price of RM2.3078 is the arithmetic mean of volume weighted average market price of ITMAX Shares for five (5) market days prior to and including the market day immediately before the Expiry Date. The structured warrants shall be automatically exercised at 9.00 a.m. on the Expiry Date if the Cash Settlement Amount is greater than zero. If the Cash Settlement Amount is less than or equal to zero all structured warrants shall be deemed to have expired on the Expiry Date and all rights of the warrantholders and our obligations with respect to such structured warrants shall cease and the warrantholders shall not be entitled to receive any payment from us in respect of the structured warrants.
The Cash Settlement Amount (if any) shall be paid, by cheque drawn in favour of the warrantholder or, by way of telegraphic transfer to the bank account of the Warrantholder, or such other mode as determined by us, subject to any postponement of the valuation dates resulting from any market disruption event or any postponement arising from any settlement disruption event, no later than seven (7) market days following the Expiry Date. For the avoidance of doubt, warrantholders shall not be required to pay or top-up the Exercise Expenses, as the case may be, where the Cash Settlement Amount is less than zero.



Announcement Info

Company Name ITMAX-CA: CW ITMAX SYSTEM BERHAD (MIBB)
Stock Name ITMAX-CA
Date Announced 29 Mar 2024
Category Structured Warrants - Final Settlement
Reference Number SWF-29032024-00023
Corporate Action ID MY240329EXWA0023