Tuesday, December 14, 2010

SapuraCrest call warrants plunge in early trade

KUALA LUMPUR: SapuraCrest Petroleum'' Bhd call warrants, SpaCrest-CC plunged in early trade on Tuesday, Dec 14, in the absence of any negative news while the mother shares advanced.

At 9.18am, SapCrest-CC was down 27 sen to 28 sen with 325,000 units done. However, the shares climbed nine sen to RM2.98.

The FBM KLCI rose 1.10 points to 1,510.89. Turnover was 115.41 million shares valued at RM87.33 million. There were 184 gainers, 88 losers and 149 stocks unchanged.

SapCrest-CC was listed on Oct 13 and the expiry date is on Oct 11, 2011 only. The issue price was 15 sen per unit.

CIMB Bank had issued up to 50,000,000 non-collateralised cash-settled call warrants over ordinary shares of SapCrest and the exercise ratio was three to one.

The exercise price was RM2.40, being 100.00% of the closing price of SapCres shares on Sept 30, 2010.

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