Tigerair Perpertual

Tigerair Perpertual - Its hard to give a view given that valuation or dilution effects are not really valid, as Tigerair is currently lost making and has an NAV of just $0.02. Do note however that SIA has undertaken to 1) convert all its convertible securities into the conversion shares; 2) subscribe in full for its pro-rata entitlements to the rights shares after the conversion of its convertible securities; and 3) subscribe in full for excess rights shares which are not subscribed for by shareholders. SIA currently holds ~40.0% of Tigerair’s shares, and should SIA be the only one to convert its convertible securities into shares, the group will end up holding ~55.9% of Tigerair. As a guide, the adjusted conversion price is $0.565, and Tiger will allow all holders of the convertible securities who elect to convert their convertible securities into conversion shares to rank for the rights issue. Holders of the Convertible Securities who require clarification on the conversion of their Convertible Securities may call Tiger's hotline at: +65 6422 2336 between 8:30 a.m. and 5:30 p.m. on Mondays to Fridays.