The following blog in Mandarin which was published on 22 October 2017 is referred.

[TALKING ABOUT THE CONVERSION OF 0118 TRIVE-WB FOR A TREAT OF A 53% DISCOUNT LUNCH]

At the date (22 October 2017), Trive-WB closed at RM0.06 and Trive mother share closed at RM0.245. The conversion/exercise price of the warrants is RM0.10. So the cost is RM0.06 + RM0.10 = RM0.16. This translates to a paper gain of RM0.085 per share (a 53% gain). But do you know that it takes 13 market days for the whole process to be completed:

  T0         T1        T2        T3        D0        D1        D2       D3        D4       D5     D6      D7     D8

20/10    23/10   24/10   25/10   26/10   27/10   30/10   31/10     1/11     2/11   3/11   6/11   7/11

0.245   0.215    0.18      0.16    0.175    0.16     0.14       ?           ?           ?       ?         ?        ?

Assuming an investor bought his/her warrants on 20 October 2017 and he/she couriers the warrant exercise forms and cheques to the registrar on 25 October 2017. The documents will reach the registrar on 26 October 2017 and it is counted as the 0th day. The first day is counted from the next day (27 October 2017) onwards. Usually the warrant will be debited out from your CDS account on D4 followed by an additional listing announcement on D7 and you can see your mother shares in your CDS account on D8.

For the case of Trive, its price has plunged from RM0.245 on 20 October 2017 to only RM0.14 on 30 October 2017. The worst thing is that you have sent your conversion forms and cheques already and you can't do anything (e.g. to cut loss) because you do not have assess on youe shares. You have to wait restlessly until 7 November 2017 to take action and what will happen to the mother share price on that day you do not know.

Today (30 October 2017), there is an additional listing announcement from the exercice of warrant B of 34,302,423 shares (which is a very large number) and there will be another additional listing next Tuesday (7 November 2017) of more that 100 plus conversion forms before the ex-date of Trive bonus issues on 9 November 2017.