That's a call warrant, issued by the bank and not by the company.
Usually Maybank will send notices to Bursa and inform traders (if you subscribe to their mailing list).

The conversion is 5.
Means 5 x 22 cents = RM 1.10 + 6.7 = Rm 7.80
Representing premium of 11.43%.

Nobody. The bank itself will release all to the market depending on the method.
Some are issuing based on market making method.

First, 0.75+6.70=7.45
Second, the settlement is only after the expiry date 28 June 2013.

Yes.

But investment bank can own Maxis share now at Rm7.00 to hedge against the rise.
or
the investment bank already own the Maxis share prior before issue the CWs.

So they are not in position to lose. But CWs, can be a way to hedge against downside risk of Maxis share they own.
as you have 2 scenario

1. Maxis share surge more than RM7.25, they lose some on CW, but gain on Maxis share they owned. Since the CWs is issued at a premium, the gain of Maxis share should be more than loss in CW.

2. Maxis share plunge or below RM7.25, they gain from CW issued , while the gain from CWs should be more than enoughs CW (as is issued at a premium to market price) to cover the lose of Maxis share owned. So net to net, still gain.

So see who is the winner?

There is always reason why rich become richer.

One can hedge around with derivatives product.
The rich one can access more investment product, structured product around, derivatives, and many many more that is not accessible for ordinary.

You know, in US, you can buy other mortgages, or "own other mortgages" through MBS.
One can buy over others insurance (defaulted or cannot continue pay a premium on the insurance) and gain a profit from it through continue the policy. I cannot 100% sure on this, as only knew and still studying recently
Correct me if I am wrong.

Got EPL?  LIVE?