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15A.06

A derivative warrant gives its holders ("warrantholders") the right (but not the obligation) either to:-

(1) purchase from ("derivative call warrant") or sell to ("derivative put warrant") the issuer at a predetermined exercise price or strike price:-
(a) a specified number of securities issued by a company (or to receive a cash payment calculated by reference thereto); or
(b) any asset (or to receive a cash payment calculated by reference thereto); or
(2) receive from the issuer a cash payment equal to the excess (if any) of:-
(a) in the case of a derivative call warrant, the value of an index relating to securities or assets (or other index) on the date of exercise of the derivative warrant over the exercise price or strike price; or
(b) in the case of a derivative put warrant, the exercise price or strike price over the value of an index relating to securities or assets (or other index) on the date of exercise of the derivative warrant
during a predetermined exercise period or on a predetermined date or dates, or any other similar type of instrument.