Exhibit 99.1
FORM OF INSTRUCTIONS AS TO USE OF
ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED
SUBSCRIPTION RIGHTS CERTIFICATES
CONSULT THE INFORMATION AGENT, YOUR BANK OR YOUR BROKER AS TO ANY QUESTIONS
The following instructions relate to a rights offering (the “Rights Offering”) by Asia Pacific Wire & Cable Corporation Limited, a Bermuda corporation (the “Company”), to the holders of record (the “Record Holders”) of its common shares, par value $0.01 per share (the “Common Shares”), as described in the prospectus dated [•], 2021 (the “Prospectus”).
In the Rights Offering, Record Holders as of 5:00 p.m., New York City time, on [•], 2021 (the “Record Date”), are receiving at no charge, non-transferable subscription rights (the “Subscription Rights”) to subscribe for and purchase additional Common Shares (the “Additional Shares”).
The Subscription Rights are evidenced by non-transferable rights certificates (the “Rights Certificates”). The number of Subscription Rights to which you are entitled is printed on the face of your Rights Certificate.
The Subscription Rights will expire if not exercised prior to 5:00 p.m., New York City time, on [•], 2021, unless extended by the Company (the “Expiration Time”).
Each Record Holder will receive one Subscription Right for each Common Share owned of record as of 5:00 p.m., New York City time, on the Record Date. Each Subscription Right will allow you to invest $0.60 (the “Investment Amount”) towards the purchase of Additional Shares at a purchase price per share equal to the Subscription Price (as defined below) (the “Basic Subscription Right”). The subscription price will be equal to 90% of the lower of (1) the volume weighted average price per Common Share on the Nasdaq Capital Market over the five consecutive trading days through and including the day of the Expiration Time and (2) the closing price per Common Share on the Nasdaq Capital Market on the day of the Expiration Time (the “Subscription Price”).
Because the Subscription Price will be determined at the Expiration Time, Subscription Rights holders will generally not know the Subscription Price at the time of exercise and will be required initially to pay the aggregate Investment Amount for both the Additional Shares subscribed for pursuant to their Basic Subscription Rights and, if eligible, any Additional Shares subscribed for pursuant to the Over-Subscription Right without knowing the fixed number of Common Shares that will be issuable pursuant to such exercise. Subscription Rights holders exercising their Subscription Rights are in effect investing the aggregate Investment Amount in the Company to receive the maximum number of Common Shares issuable at the Subscription Price.
By way of example, if you hold 1,000 Subscription Rights, and you exercise your Basic Subscription Rights in full, you would be investing $600.00 towards the purchase of Additional Shares. Using a hypothetical Subscription Price of $2.96 per share based on an assumed Expiration Time of 5:00 p.m., New York City time, on August 26, 2021, you would acquire 202 Additional Shares from your $600.00 investment pursuant to the exercise of your Basic Subscription Right. Regardless of the Subscription Price, Subscription Rights holders who exercise their Subscription Rights will have no right to rescind their subscriptions after receipt of their completed subscription certificates together with payment for shares to the Subscription Agent.
Additionally, as further described in the Prospectus, Subscription Rights holders who fully exercise their Basic Subscription Right will be entitled to subscribe for Additional Shares that remain unsubscribed as a result of any unexercised Basic Subscription Rights (the “Over-Subscription Right”). Subscription Rights holders who are entitled to exercise their Over-Subscription Right may do so by specifying the additional Investment Amount that they desire to apply towards the purchase of Common Shares at the Subscription Price pursuant to the Over-Subscription Right. If an insufficient number of Additional Shares are available to satisfy fully the Over-Subscription Right requests, then the available Additional Shares will be distributed among Subscription Rights holders who exercised their Over-Subscription Right, based on the procedures set forth in the Prospectus, and any excess investment amount payments received by Computershare Trust Company, N.A. (the “Subscription Agent”) will be returned to Subscription Rights holders who exercised their Over-Subscription Right promptly, without interest, following the Expiration Time.