How To Exercise Your Warrants (Golden Agri)


If you were a shareholder of Golden Agri Resources Ltd during the global financial crisis, you would have been given its eW120723 warrants.

The conversion ratio of this warrant is 1:1. This means that if you exercise 1 warrant and pay the strike price of $0.54, you will receive 1 share.

These are the steps to exercise your Golden Agri Warrants based on our experience**:

  1. Find out how many warrants you have — check your latest CDP statement (or login online at CDP Internet Service).
  2. You should have received the Notice of Exercise Form about 2 weeks ago. Fill it up. The number of shares is the same as the number of warrants you are exercising, due to the 1:1 conversion ratio.
  3. Calculate the amount of money you need to pay: $0.54 x (number of warrants).
  4. Purchase a cashier’s order for the amount you calculated, payable to “GOLDEN AGRI-RESOURCES LTD”. You may use DBS Internet Banking to buy the cashier’s order — the service is free but you will need to self-collect it the next day at one of a few branches (you need to select the branch; see DBS Cashier’s Order web page for details).
  5. After you collect the cashier’s order, write the cashier’s order number (similar to a cheque number) on the form.
  6. Remember to sign the form.
  7. Send the completed form along with the cashier’s order to the warrant agent (B.A.C.S Pte Ltd, 63 Cantonment Road), either by post or in person. If you are driving there, you may park at Pinnacle@Duxton.

An interesting note: If you had bought $100k of GoldenAgr shares at its lowest point (around $0.14) in late October 2008, your shares would be worth more than $500k today.

** This is provided “as-is” and does not constitute legal and/or investment advice. If you are in doubt, always consult your broker or investment advisor.



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