Listing fees for convertible equity securities
13.
A Berhad lists its warrants in July 2009. Based on the calculation set out in paragraph 5.3 of the Fees and Charges, the first annual listing fee for the warrants amounts to RM30,000. Does A Berhad have to pay that amount for 2009 even though the warrants are listed only from July onwards?
Although the annual listing fee is RM30,000, paragraph 5.3(a) of the Fees and Charges allows the fee to be pro-rated according to the number of months the securities are listed subject to a minimum fee of RM20,000. As the warrants are listed in July 2009, the pro rated fee is RM15,000. However, as the minimum fee is RM20,000, A Berhad has to pay RM20,000 as the annual listing fee for the warrants in year 2009.