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Agent Services Information

BW Warrant Agent Service

Introduction

The Korea Securities Depository(KSD) as warrant agent receives a warrant exercise from warrant holder and notifies the details of warrant exercise to the issuer and its share transfer agent.

Warrant Exercise Procedure

Warrant Exercise Procedure

  • ① A warrant holder requests warrant exercise into shares to KSD(warrant agent) by presenting the warrants (and bonds if they are to be delivered in lieu of payment of subscription money). Provided the warrants are deposited at the International Central Securities Depository(ICSD), warrant exercise request is made through ICSD. The warrant holder also notifies its local custodian of the warrant exercise details
  • ② If payment of subscription money is made in lieu of bond delivery, cash shall be delivered to the payment handling bank designated by the issuer
  • ③ KSD(warrant agent) gives warrant exercise details to the issuer and its share transfer agent
  • ④ The issuer requests its share transfer agent to issue and deliver resultant shares
  • ⑤ After issuing shares in the name of KSD, the share transfer agent notifies it to KSD as the Central Securities Depository(CSD)
  • ⑥ KSD(CSD) delivers resultant shares to the local custodian appointed by the warrant holder.
  • ⑦ The issuer registers paid-in capital increase with the local registration office.
  • ⑧ The issuer lists shares on the KRX.