Exercise type:GThere are two types of warrant exercise:Gcustomers-requested exercise and automatic exercise.
Exercise by request:GThe securities firm can accept customers-requested application to exercise a warrant only if the warrant has been transferred to the TDCC's account by 2:30 p.m. of the expiration day.
Securities firms' operations : The securities firm shall collect fund and securities from the clients applying for exercise of warrant, and hand over to the TWSE on the second business day following the exercising day, and then TWSE delivers securities
and fund to the clients through securities firms' accounts in TDCC or the settlement bank. If the issuer chooses to settle in cash, the securities firm shall return the fund and securities collected in advance on the first business day following the
exercising date.
Automatic exercise: If the warrant upon expiration has exercise value, but the investor doesn't apply to exercise the warrant before expiration, the warrant will be settled in cash. The issuer shall deliver the payment to TWSE through the securities
firm on the second business day following the expiration date, and then TWSE delivers the payment to the investors through the securities firm.