下限看涨期权：看涨期权价差对手方授予公司的看涨期权交易，可由公司酌情行使，授予公司权利根据下限看涨期权的条款获得：(i)以现金结算的下限行使价与指定交易日期间内每股股份成交量加权平均价之间的差额(按当时的汇率兑换为美元计算)，乘以(ii)行使的下限看涨期权所涉股份数量。下限行使价即行使时适用的股票挂钩证券行使价，初始股票挂钩证券行使价为每股8.2822美元(相当于64.395港元)。MINISO (09896) announced that on January 7, 2025 (before the market opens), it will be pricing securities linked to stocks...
According to the news from Zhitong Finance APP, MINISO (09896) announced that on January 7, 2025 (before market opens), after pricing the stock-linked securities, the company will enter into a Call spread with the counterparties of the Call options (UBS Group London Branch and Hong Kong Shanghai Banking Corporation Limited). The Call spread is independent of the stock-linked securities but constitutes a part of the stock-linked securities. No securities holder will have any rights under the Call spread.
The Call spread includes:
Lower Call Option: The Call options trading granted to the company by the Call spread counterparty may be exercised at the company's discretion, granting the company the right to obtain: (i) the difference between the cash-settled lower exercise price and the volume-weighted average price per share during the designated trading period (calculated in dollars at the then-current Exchange Rates), multiplied by (ii) the number of shares involved in the exercised lower Call options. The lower exercise price is the exercise price applicable to the stock-linked securities at the time of exercise, with the initial exercise price for the stock-linked securities set at $8.2822 per share (equivalent to HK$64.395).
Upper Warrants: The Call options trading granted to the Call spread counterparties by the company can be exercised at the discretion of the Call spread counterparties. If fully exercised, the Call spread counterparties will be entitled to receive newly allocated and issued shares (each referred to as an upper share) equivalent to or less than the cash-settled share quantity according to the terms of the upper warrants. The upper exercise price is $13.1317 per share (equivalent to HK$102.10). The upper exercise price is calculated based on the reference price and agreed premium percentage after fair negotiation between the company and the Call spread counterparties.
The maximum number of cash-settled shares calculated as of the date of this announcement; the issuance of upper shares will be conducted by the company under the general authorization for 2024. As of the date of this announcement, the total number of upper shares that can be issued is 66.4074 million shares (with a total par value of $664.07), accounting for approximately 5.31% of the company's issued and outstanding shares.
The upper exercise price of $13.1317 per share (equivalent to HK$102.10) is a premium of 100.00% over the closing price of the shares at HK$51.05 per share reported on January 6, 2025, on the Stock Exchange.
