Kuala Lumpur, 23 October 2014 – Maybank Investment Bank Berhad (“Maybank IB”) is issuing eight new European style cash-settled call warrants (“CW”) over ordinary shares of Felda Global Ventures Holdings Berhad (“FGV”), Hap Seng Plantations Holdings Berhad (“HSPLANT”), Keck Seng (Malaysia) Berhad (“KSENG”), Kulim (Malaysia) Berhad (“KULIM”), Sarawak Oil Palms Berhad (“SOP”), TH Plantations Berhad (“THPLANT”), TSH Resources Berhad (“TSH”) and United Plantations Berhad (“UTDPLT”). The warrants were listed on Thursday, 23 October 2014 with an issue size of 100 million each.
This tranche offers sophisticated investors the opportunity to gain exposure to oil palm plantation counters. The price of CPO recovering from its low of less than RM2,100/MT in August and September; higher price of CPO may contribute positively to the revenue of oil palm plantation counters which will indirectly translate to higher share prices. As such, this tranche offers sophisticated investors with a bullish view on the price of CPO an opportunity to capitalize on the potential upside the warrants offer.
The call warrants have the following gearings, FGV-CW (5.70x), HSPLANT-CB (4.17x), KSENG-CD (3.36x), KULIM-CR (4.33x), SOP-CC (3.73x), THPLANT-CD (2.77x), TSH-CH (3.58x) and UTDPLT-CA (4.27x). The tenure of all eight CWs is approximately 12 months.
The terms and conditions of the above call warrants are stated in their respective term sheets and investors should read the term sheets together with the Base Prospectus dated 2 October 2014.