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UV-W1 to begin
trading today.
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Warrants of Univenture Plc
(UV-W1) will begin trading on the Thai stock market today.
Last November 25, shareholders were offered one free warrant
for every two UV shares held. The warrants have a 7-year
maturity and can be converted into common shares at a 1:1
ratio at Bt25.
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Terms and
Conditions of UV warrants |
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Listing Date |
March 7 , 2003 |
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Type of Securities UV-W1 |
These are call warrants, which specify the names of
holders in order to reserve his/her rights to purchase
common shares of the company |
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Number of Warrants |
17,427,299 units |
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Rights of Warrants |
Rights to purchase common shares of company at 1
warrant for 1 new common share at an exercise price of
Bt25 per share |
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Term of Warrants |
7 years (the last exercise date is
on February 19, 2010) |
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Offering Price |
free |
The table below indicates the
theoretical value of UV-W1 using the Black & Scholes
model with a risk-free rate of 5%, historical volatility of
50% and assumed dividend yield of 3%.
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Black
& Scholes Value of UV-W1 (unit :bt) |
|
UV-Price |
UV-W1 |
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22.0 |
6.58 |
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22.5 |
6.81 |
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23.0 |
7.04 |
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23.5 |
7.27 |
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24.0 |
7.50 |
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24.2 |
7.59 |
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24.5 |
7.74 |
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25.0 |
7.97 |
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25.5 |
8.21 |
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26.0 |
8.44 |
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27.0 |
8.92 |
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Analyst: Surachai P. (Ext. 1420)
Email: Surachai.p@kimeng.co.th
If you have
any questions or suggestions please feel free to email our Research
Webmaster
Copyright © March 2000,
Kim Eng Securities (Thailand) PLC. All rights reserved.
Disclaimer
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