Google Call Warrant
I found that some of us still looking for more information about Google Call Warrant GOOGLE-C1 that going to list in Bursa Malaysia this Wednesday. Here is the details.
| Warrant Type : | Non-collateralised American-style Cash Settled Call Warrants (“Warrants”) |
| Issuance Method : | Private Placement |
| Issuer : | OSK Investment Bank Berhad (“OSK”) |
| Underlying Share : | Google Incorporated |
| Issue Size : | Up to 90,000,000 Warrants |
| Entitlement Ratio : | Three Thousand (3,000) Warrants entitle to one (1) Share |
| Price Fixing Date : | 29 October 2007 (Monday) |
| Offering Date (“T”) : | 30 October 2007 (Tuesday) |
| Closing Date : | 31 October 2007 (Wednesday) |
| Listing Date : | 14 November 2007 (Wednesday) (expected) |
| Expiry Date : | 7 months from Issue Date (expected to be on 6 June 2008) |
| Exercise Price : | USD 680.00 (i.e. 100.4% of the Reference Price) |
| Issue Price : | RM 0.11 (i.e. 14.59% of Reference Price divided by 3,000 and multiplied by currency exchange rate USD/RM 3.3400, rounded to the nearest sen). |
| Reference Price : | USD 677.07 ( i.e. 1-day volume weighted average price of Share on Price Fixing Date - New York date & time) |
| Premium* : | 15.03% |
| Gearing* : | 6.9 times |
| Delta* : | 59.6% |
| Effective Gearing* : | 4.1 times |
| Implied Volatility : | 43.7% (estimate) < Historical volatility: 18.2% (90 days) ; 19.6% (260 days)> |
| Settlement Method : | Cash settlement only |
| Exercise Period : | Exercisable at any time from the Listing Date to the Expiry Date (both dates inclusive) |
| Cash Settlement Amount : | Upon the valid exercise (or automatic exercise, as the case may be) of the Warrants, the Issuer shall pay the Cash Settlement Amount for every Warrant which shall be determined as follows:Cash Settlement Amount = (Settlement Price – Exercise Price) / 3000 – Exercise ExpensesThe Cash Settlement Amount shall be converted to RM prior to payment to the Warrantholder using the prevailing rate of exchange between USD and RM (expressed in the number of units of RM per one (1) unit of USD) on the Exercise Date at or about 5.00 p.m. Malaysia time, as determined by the Issuer by reference to such source(s) as the Issuer may reasonably determine to be appropriate at such timeWhere the Settlement Price will be determined as follows: (A) in relation to exercise during the Exercise Period, the closing price of the Share on the Exercise Date (New York date & time) (B) in relation to the automatic exercise of the Warrants on the Expiry Date, the arithmetic mean of the closing price of the Share for the five (5) scheduled Market Days prior to and including the Market Day before the Expiry Date (both based on New York date & time). |
| Exercise Amount : | 50,000 Warrants and in integral multiples of one (1) Board Lot |
| Board Lot : | 100 Warrants |
| Listing : | Application for permission to list and quote on Bursa Securities has been made. |
* Calculation is based on the Reference Price and after adjustment for Entitlement Ratio.