FINAL REMINDER
THE DEVELOPMENT BANK OF SINGAPORE LTD
To:
All holders of Call Warrants
issued by The Development Bank of Singapore Ltd
relating to the ordinary shares of S$1.00 each
in the capital of Singapore Airlines Ltd
Dear Sir / Madam,
EXPIRY OF WARRANTS
The rights comprised in the call warrants (the "Warrants"), relating to the ordinary shares of S$1.00 each in the capital of Singapore Airlines Ltd (the "Shares") issued by The Development Bank of Singapore Ltd entitling the holders of the Warrants to receive fully-paid Shares in accordance with the terms and conditions of the Warrants, will expire at 12.00 p.m. on 11th May, 2000, after which time any rights comprised in the Warrants which have not been exercised will lapse and the Warrants will cease to be valid.
Holders of the Warrants who wish to exercise their Warrants must complete and sign the Exercise Notice in the prescribed form (which shall be irrevocable) and deliver the same to the Warrant Agent, DBS Nominees Pte Ltd, 180 Clemenceau Avenue, #02-02, Haw Par Centre, Singapore 239922, not later than 12.00 p.m. on 11th May, 2000, together with:-
- payment for the amount equal to the aggregate Exercise Price of the Shares in respect of which the Warrants are being exercised and the exercise expenses (by banker's draft, cashier's order or other payment in immediately available funds); and
- such evidence (if any) as the Warrant Agent may require to determine the due execution of the Exercise Notice by or on behalf of the exercising holder of the Warrants.
Copies of the Exercise Notice may be obtained from the Warrant Agent.
The exercise price, which is subject to adjustment in accordance with the terms and conditions of the Warrants, is currently S$6.20 for each Share.
Trading in the Warrants on the Singapore Exchange Securities Trading Limited ("SGX-ST") will cease with effect from 9.00 a.m. on 4th May, 2000. The Warrants will be delisted from the Official List of the SGX-ST on 12th May, 2000.
Issued by
THE DEVELOPMENT BANK OF SINGAPORE LTD
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