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Notice
ASX Participants were advised via 0343.22.04, 0495.22.05 and 0560.22.05 of the proposed method of termination for ETOs over Crown Resorts Limited (ASX Code: CWN) under the acquisition by SS Silver II Pty Ltd, an entity owned by funds managed or advised by Blackstone Inc. and its affiliates (Blackstone)
Participants are advised that the scheme is effective with unconditional approval by both Crown Resorts Ltd security holders and the required courts.
Termination Prices of Series
Termination will be done at intrinsic value for each series, using $13.09 - CWN last traded price on Wednesday, 15 June 2022.
Option positions held at the close of business on Wednesday, 15 June 2022will be closed out and cash settled at the securities intrinsic value. Takers will be credited and writers will be debited. ASXCL will settle these cash amounts on Thursday, 16 June 2022.
Please refer to the table below for the intrinsic values of each series:
Calls Strike ($) |
Contract Size |
Intrinsic Value ($) |
Cash Settlement amount per lot $ (2 decimal places) |
|---|---|---|---|
0.01 |
100 |
13.08 |
$ 1,308.00 |
6.5 |
100 |
6.59 |
$ 659.00 |
6.75 |
100 |
6.34 |
$ 634.00 |
7 |
100 |
6.09 |
$ 609.00 |
7.25 |
100 |
5.84 |
$ 584.00 |
7.5 |
100 |
5.59 |
$ 559.00 |
7.75 |
100 |
5.34 |
$ 534.00 |
8 |
100 |
5.09 |
$ 509.00 |
8.25 |
100 |
4.84 |
$ 484.00 |
8.5 |
100 |
4.59 |
$ 459.00 |
8.75 |
100 |
4.34 |
$ 434.00 |
9 |
100 |
4.09 |
$ 409.00 |
9.25 |
100 |
3.84 |
$ 384.00 |
9.5 |
100 |
3.59 |
$ 359.00 |
9.51 |
100 |
3.58 |
$ 358.00 |
9.75 |
100 |
3.34 |
$ 334.00 |
9.76 |
100 |
3.33 |
$ 333.00 |
10 |
100 |
3.09 |
$ 309.00 |
10.25 |
100 |
2.84 |
$ 284.00 |
10.5 |
100 |
2.59 |
$ 259.00 |
10.75 |
100 |
2.34 |
$ 234.00 |
11 |
100 |
2.09 |
$ 209.00 |
11.25 |
100 |
1.84 |
$ 184.00 |
11.5 |
100 |
1.59 |
$ 159.00 |
11.75 |
100 |
1.34 |
$ 134.00 |
12 |
100 |
1.09 |
$ 109.00 |
12.25 |
100 |
0.84 |
$ 84.00 |
12.5 |
100 |
0.59 |
$ 59.00 |
12.75 |
100 |
0.34 |
$ 34.00 |
13 |
100 |
0.09 |
$ 9.00 |
13.25 |
100 |
0 |
$ - |
13.5 |
100 |
0 |
$ - |
13.75 |
100 |
0 |
$ - |
14 |
100 |
0 |
$ - |
14.25 |
100 |
0 |
$ - |
14.5 |
100 |
0 |
$ - |
15 |
100 |
0 |
$ - |
Puts Strike ($) |
Contract Size |
Intrinsic Value ($) |
Cash Settlement amount per lot $ (2 decimal places) |
|---|---|---|---|
6.5 |
100 |
0 |
$ - |
6.75 |
100 |
0 |
$ - |
7 |
100 |
0 |
$ - |
7.25 |
100 |
0 |
$ - |
7.5 |
100 |
0 |
$ - |
7.75 |
100 |
0 |
$ - |
8 |
100 |
0 |
$ - |
8.25 |
100 |
0 |
$ - |
8.5 |
100 |
0 |
$ - |
8.75 |
100 |
0 |
$ - |
9 |
100 |
0 |
$ - |
9.25 |
100 |
0 |
$ - |
9.5 |
100 |
0 |
$ - |
9.51 |
100 |
0 |
$ - |
9.75 |
100 |
0 |
$ - |
9.76 |
100 |
0 |
$ - |
10 |
100 |
0 |
$ - |
10.25 |
100 |
0 |
$ - |
10.5 |
100 |
0 |
$ - |
10.75 |
100 |
0 |
$ - |
11 |
100 |
0 |
$ - |
11.25 |
100 |
0 |
$ - |
11.5 |
100 |
0 |
$ - |
11.75 |
100 |
0 |
$ - |
12 |
100 |
0 |
$ - |
12.25 |
100 |
0 |
$ - |
12.5 |
100 |
0 |
$ - |
12.75 |
100 |
0 |
$ - |
13 |
100 |
0 |
$ - |
13.25 |
100 |
0.16 |
$ 16.00 |
13.5 |
100 |
0.41 |
$ 41.00 |
13.75 |
100 |
0.66 |
$ 66.00 |
14 |
100 |
0.91 |
$ 91.00 |
14.25 |
100 |
1.16 |
$ 116.00 |
14.5 |
100 |
1.41 |
$ 141.00 |
15 |
100 |
1.91 |
$ 191.00 |
What do I need to do by when?
ASX participants are requested to terminate CWN ETO series in line with the above methodology.
Need more information?
Issued by
Greg Fitzpatrick, Clearing Operations
Contact information
Greg Fitzpatrick
clearing@asx.com.au