SCOMI-LA

Written on January 16, 2010 – 3:42 am | by Kampung Boy |

Profile of Scomi - LA

Profile for Loan Stocks

Instrument Type : Loan Stocks
Description : THREE (3)-YEAR 4% IRREDEEMABLE CONVERTIBLE SECURED LOAN STOCKS
(ICSLS)
Listing Date : 16/12/2009
Issue Date : 14/12/2009
Issue/ Ask Price : MYR 0.1000
Issue Size in Currency : MYR 151579679.1000
Maturity Date : 14/12/2012
Revised Maturity Date :
Exercise/Conversion Period Type : 3 Year(s)
Revised Exercise/Conversion Period Type : 0 Year(s)
Exercise/ Strike/ Conversion Price : MYR 0.4000
Exercise/ Conversion Ratio : Please refer to remarks.
Mode of Satisfaction of Exercise/Conversion Price : Tendering of securities
Settlement Type/ Convertible into : Physical (Shares)
Remarks : Each registered holder of the ICSLS shall have the right at any time
during the conversion period to convert such amount of ICSLS held into fully
paid new ordinary shares of RM0.10 each in Scomi Group Bhd (”SGB Shares”) at
the conversion price of RM0.40 per SGB Share.
The conversion of the ICSLS will not require any cash payment by the ICSLS
holder. The conversion price will be satisfied by surrendering for cancellation
the ICSLS with an aggregate nominal value equivalent to the conversion price.
Any fractional SGB Shares arising from the conversion of the ICSLS shall be
disregarded.
The ICSLS are not redeemable (save upon declaration of an event of default). At
the end of the tenure, any outstanding ICSLS will be automatically converted
into new SGB Shares at the conversion price.

Conclusion

For those of you that don’t understand such long technical stuff, i will just summarize it in short for your understanding.

Before i go further, Loan stocks and warrants do have life span. You must be aware of this always before investing into warrants.

Life span for Scomi - LA : 3 years (at a rate 4% per annum)
Conversion for Scomi-LA : 4000 shares of Scomi-LA is exchangeable to 1000 shares of Scomi

All those lines, you just need the above 2 lines to get the whole picture. Happy investing! ^^

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