We wish to announce that BAUTO-C6 had expired at 9.00 a.m. on 7 September 2020 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of BAUTO-C6 exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of BAUTO-C6 exercised x (1/2.5) x (RM1.3729 - RM2.8800) 
= Number of BAUTO-C6 exercised x RM0.0000 

The Closing Price of RM1.3729 is the average daily volume weighted average price (VWAP) of the ordinary shares of BAUTO for the five (5) market days prior to and including the market day immediately before the Expiry Date. The BAUTO-C6 is deemed to have been automatically exercised on the Expiry Date.

As the Cash Settlement Amount is less than Zero, warrantholders will not be entitled to receive any payment from us and all outstanding and unexercised BAUTO-C6 will cease to be valid and all our obligations in respect to BAUTO-C6 shall terminate absolutely.


This announcement is dated 7 September 2020.