Transpac Industrial

Transpac Industrial: XA today for DPS of $0.05 and 3-for-1 bonus warrants; Counter is down 20.1% to $1.390. Terms for the bonus warrants are: Holders are only entitled to exercise their warrants during two distinct periods- i) at the 6-month mark from date of issue, at $1.28 exercise price; or ii) during the 12-month period between year 2-3, at exercise price of $2.28. The assumption that all warrant holders exercise their warrants at the 6-month mark is made for the calculation on the theoretical XA price. [ $1.74 - 0.05 + (1.28 X 3) ] / 4 = $1.3825 However, do note that warrants are not immediately dilutive on the share price.