Put Warrant

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Put Warrant

A warrant attached to a share giving the shareholder the right to sell the share at a certain strike price on or before a stated expiration date. A put warrant operates much like a put option. The main difference is that a put option is a separate contract between two parties, while a put warrant is attached to a share directly, especially as a sweetener.
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For put warrants of domestic securities or indices the sixth digit of the warrant security code will remain "P", with the code assignments to start from 03001P.
As such, a plan, based on discussions with representatives of Hunan Valin's major public shareholders, was finalized in December 2005 whereby Mittal Steel and Valin Group will issue two year put warrants to all holders of listed shares who were to register on or before 20 January.
The Company defines EBITDA as earnings before interest, taxes, changes in the fair value of put warrants, depreciation and amortization, stock compensation and restructuring expenses which include the basket allowed under our senior credit facility and other actual restructuring costs.
Adjusted results for 2003 exclude a net loss on the refinancing of long-term debt, change in the valuation of put warrants and reserve on stockholder notes of $5,271,000.
The increase in net income for the three months ended December 31, 2010 was mainly attributable to higher operating profit and change in fair value of put warrants which were partially offset by higher interest expenses.
PGF now owns an aggregate of 11,750,000 common shares of the Company, share purchase warrants entitling it to acquire a further 9,250,000 common shares of the Company and cashless put warrants convertible into 1,666,667 common shares of the Company.
The increase in net income for the three months ended September 30, 2010 is mainly attributable to higher gross margin and change in fair value of put warrants which were partially offset by higher interest expenses.
Adjusted results for the first nine months of 2003 exclude a net loss on the refinancing of long-term debt, change in the valuation of put warrants and reserve on stockholders notes of $5,159,000, or $0.
05 per share driven in part by non-cash charge to the fair value of put warrants
The adjusted results for 2004 exclude the loss on refinancing long-term debt discussed above, and adjusted results for 2003 exclude a net loss on a change in valuation of put warrants and in reserve on stockholder notes.
In addition, adjusted results for 2003 exclude a loss from a change in valuation of put warrants.
01 per diluted share without non-cash change in fair value of put warrants