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Notice
This Notice is being issued to provide Participants with further information on the implication of Arrium Limited (ARI) ETOs
What do I need to do by when?
Termination of September 2016 Series
Market Participants and ASX Clear (ASXCL) Participants were earlier advised under ASX Notice 0361.16.04 dated 8 April 2016 of the termination price implications for ETOs over Arrium Limited (ASX Code: ARI)
Confirmation of no market available for September 2016 Series and Termination
ARI remains in voluntary administration and no other intervening circumstances occur by 29 September 2016 expiry date, ASX and ASXCL have determined that there will be no market available in ARI ETOs and termination of September 2016 ARI series will proceed after the close of trading on the expiry day.
Restriction on Exercise on Expiry Day
As a reminder, a restriction on exercise of ARI ETOs will continue over the 29 September 2016 expiry day as the stocks is suspended under voluntary administration.
Termination Price
The September 2016 open position in ARI ETOs will be cash settled out by ASXCL on the day following the 29 September 2016 expiry day. Termination will be determined at intrinsic value for each series using a share reference price of zero dollar as determined by ASX, in consultation with ASXCL, which it considers fair and reasonable in the circumstances.
Table for September 2016 series as follows:
Calls Strike ($) |
Contract Size |
Termination Price (IV) ($) |
Cash Settlement amount per lot $ (2 decimal places) |
|---|---|---|---|
0.01 |
100.00 |
0.00 |
0.00 |
0.10 |
100.00 |
0.00 |
0.00 |
0.15 |
100.00 |
0.00 |
0.00 |
0.20 |
100.00 |
0.00 |
0.00 |
0.25 |
100.00 |
0.00 |
0.00 |
0.30 |
100.00 |
0.00 |
0.00 |
0.35 |
100.00 |
0.00 |
0.00 |
0.40 |
100.00 |
0.00 |
0.00 |
|
|
|
|
Puts Strike ($) |
Contract Size |
Termination Price (IV) ($) |
Cash Settlement amount per lot $ (2 decimal places) |
0.10 |
100.00 |
0.10 |
10.00 |
0.15 |
100.00 |
0.15 |
15.00 |
0.20 |
100.00 |
0.20 |
20.00 |
0.25 |
100.00 |
0.25 |
25.00 |
0.30 |
100.00 |
0.30 |
30.00 |
0.35 |
100.00 |
0.35 |
35.00 |
0.40 |
100.00 |
0.40 |
40.00 |
Implications for September 2016 ETOs
The following implications apply to September 2016 ETOs which have open positions.
ARI remains in voluntary administration and no other intervening circumstances occur by September 2016 ETOs expiry date, ASX and ASXCL expect to determine that there is no market available in ARI ETOs and will also make a determination as to termination, and as appropriate, termination prices for Open Contracts in September 2016 ETOs with open positions.
ASX and ASXCL expect Participants to explain the implications of this announcement to their clients and clients contacting ASX or ASXCL will be referred to their Participants.
Need more information?
Issued by
Eldon Hernando, Senior Officer, Post Trade Operations
Contact information
Eldon Hernando
1800 623 571
cad@asx.com.au