SIMON - Conv ratio Q

[#1]

Simon (and other that may have done so) if I were to hold a warrant to expiry and is was ITM how would I go about converting to to the underlying? WOuld I have to pay in a fee/price to obtain the underlying? If I held 10,000 warrants and the conv ration was 100 would I then get 100 of the underlying shares witout paying in or how does it work?

[#2]

I researched a little more and I think I have figured out the formula. Strike price+(warrant price at close/excercise * conv ratio) eg (on a call warrant) strike price is R50 warrant price is R0.20 and conv ratio is 100, so 50+(0.20*100)=70. Does this mean that I could buy the underlying share at R70 per share? Thus if the share is actually trading at R80 then I have a bargain. If the trade price is R65 then I have a wait ahead to make a profit on the underlying. Tnx

[SimonPB]

to take up the shares you have to pay the strike price and for each share you want to take up you need as many warrants as the cover ratio .. but in reality the issuer will pay out the cash value (if any) at expiry ..