call warrants

23-5-2011，  CIMB INVESTMENT BANK BERHAD  公布 TM-cm 
随着 telekom capital distribution 29sen 而调整  它的 Exercise Price 和 Exercise Ratio。
Exercise Price 从 3.20 调到 2.9763,
Exercise Ratio 从 3 warrants to 1 share  调到 2.7910 warrants to 1 share。

详情请看以下这 link:
http://announcements.bursamalaysia.com/edms/edmswebh.nsf/all/482576120041BDAA4825789900370F25/$File/TM-CM%20Ann%20Capital%20Distribution%20-%20110523%20_adjustmt_%20Final.pdf

可是今天 28-7-2011 刚才闭市过后， cimb 公布 tm-cm 的 cash settlement 如下，

We wish to announce that the TM-CM expired at 5.00 p.m. on 28 July 2011 (“Expiry Date”) and the Cash Settlement Amount shall be calculated as below.


Cash Settlement Amount = Number of TM-CM x (Closing Price – Exercise Price) x (1/Exercise Ratio)

= Number of TM-CM x (RM4.0132 – RM3.20) x (1 / 3)

= Number of TM-CM x RM0.2711

The Closing Price of RM4.0132 is the arithmetic mean of daily volume weighted average market price of TM shares for the 5 market days prior to and including the market day immediately before the Expiry Date.

也既是说没调。

如果照调整过后的来算，

Number of TM-CM x (RM4.0132 – RM2.9763) x (1 / 2.7910)


= Number of TM-CM x RM0.3715

RM0.3715 - RM0.2711 = RM0.1004

少了 1 毛钱，不得了，本来每1000单位 tm-cm 可得 RM371.50,
可是现在只得回 RM271.10