Any sifu can give any comment on this price adjustment? Does it mean when they merge they will return cash bank of the merger price of 3.58?

Conversion Rate : 3 to 1
Exercise Price = 2.2

X*3 +2.2 = 3.58
X*3 = 1.38
X= = 0.46

Does that mean they will cash back IJMLAND-CA on 0.46 ( Increase of 0.16 from current 0.3 which is about 50% increase)






JMLAND-CA - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: AMINVESTMENT BANK BERHAD
Name: IJMLAND-CA: CW IJM LAND BERHAD (AM)
Stock Name: IJMLAND-CA
Date Announced: 26/11/2010

Announcement Detail:
Type: Announcement

Subject: AMINVESTMENT BANK BERHAD ("AMINVESTMENT BANK")

ADJUSTMENT TO THE TERMS AND CONDITIONS OF THE EUROPEAN STYLE CASH-SETTLED CALL WARRANTS OVER ORDINARY SHARES OF IJM LAND BERHAD ("IJMLAND") ("IJMLAND-CA") PURSUANT TO THE MEMORANDUM OF UNDERSTANDING ON THE PROPOSED MERGER BETWEEN MALAYSIA RESOURCES CORPORATION BERHAD AND IJMLAND BY WAY OF A MEMBERS' SCHEME OF ARRANGEMENT UNDER SECTION 176 OF THE COMPANIES ACT, 1965 VIA A NEWLY INCORPORATED COMPANY ("PROPOSED MERGER")

Contents: We refer to the announcement by IJMLAND dated 23 November 2010 in relation to the Proposed Merger.

In accordance with the Deed Poll dated 8 July 2009, the terms and conditions of IJMLAND-CA will be adjusted accordingly in the event the Proposed Merger is implemented ("Adjustments").

Further announcement in relation to the Adjustments will be made in due course when more information on the Proposed Merger is announced by IJMLAND.

This announcement is dated 26 November 2010.