We wish to announce that HSI-CYA expired at 9.00 a.m. on 27 September 2024 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below.
Cash Settlement Amount
= Number of HSI-CYA x (1/Entitlement) x (Settlement Level - Exercise Level) x Multiplier x Settlement Exchange Rate - Exercise Expenses*
= Number of HSI-CYA x (1/1,200) x (20,469.00 - 20,800.00) x HKD1.00 x RM/HKD0.5163 - Exercise Expenses*
= Number of HSI-CYA x RM0.0000 - Exercise Expenses*
* Exercise Expenses for every one (1) unit of structured warrants is equivalent to 0.3% of 1/Entitlement x (Settlement Level - Exercise Level) x Multiplier x Settlement Exchange Rate. 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 Level of 20,469.00 is the final settlement price for settling the corresponding spot month index futures contracts on 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.