This is the Search Bar
This is a search implemented as a a table
Search ASX Online...

This is the Search Bar
This is a search implemented as a a table
Search ASX Online...

Notice

Tatts Group Limited (ASX Code: TTS) combination with Tabcorp Holdings Limited (ASX code: TAH) - Adjustment Implications for ETOs

What's this about:

Notice reference number: 1497.17.12

Date published: 13/12/17

Effective as of: 13/12/17

Last updated: 13/12/17

ASX Participants and ASX Clear (ASXCL) Participants were advised in ASX Notice #1457.17.12 dated 07 December 2017 of the adjustment method that ASX will apply to the Tatts Group Limited (ASX Code: TTS) and Tabcorp Holdings Limited (ASX Code: TAH) combination. Following shareholders and court approvals, the scheme is now effective with the last day of trading of TTS shares 13 December 2017.

What do I need to do by when?

Scrip and Cash Offer Adjustment

As earlier advised, ASX will, after the close of business on the last date of trading of TTS shares on 13 December 2017, adjust Open Positions in TTS options as follows:

The Underlying Securities will become TAHNB shares; the New Contract Size in TA9 will become 0.8 * Old Contract Size;

note that the options code TA9 will be used for TAHNB Shares
the Exercise Price in each Series will be adjusted for the Cash component, and in reflection of the reduction of the cash amount, using the following formula: New Exercise Price = (Old Exercise Price - $0.425)/(NC/OC)

Table of adjusted series are as follows

OLD SIZE	NEW SIZE	OLD STRIKE (CENTS)	NEW STRIKE (CENTS)	Exercise
100	80	280	297	A
100	80	300	322	A
100	80	320	347	A
100	80	330	359	A
100	80	340	372	A
100	80	350	384	A
100	80	360	397	A
100	80	370	409	A
100	80	380	422	A
100	80	390	434	A
100	80	400	447	A
100	80	410	459	A
100	80	420	472	A
100	80	421	473	E
100	80	430	484	A
100	80	431	486	E
100	80	440	497	A
100	80	450	509	A
100	80	460	522	A
100	80	470	534	A
100	80	480	547	A
100	80	490	559	A
100	80	500	572	A
100	80	525	603	A
100	80	550	634	A
100	80	575	666	A
100	80	600	697	A

When Effective

The adjustment to TA9 ETOs will be effective on Thursday 14 December 2017.

Following the end of deferred settlement trading, from Wednesday, 27 December 2017, TAHNB will trade as TAH on a normal settlement basis and merge with existing shares. The Options Code for ex-TTS ETOs will then change from TA9 to TAH.

Restriction on Exercise

Exercise of TTS ETOs were restricted on the last day of trading of TTS Shares on Wednesday, 13 December 2017

Exercise of TA9 ETOs will be restricted on the last day of deferred trading of new TAH Shares on Friday, 22 December 2017

Need more information?

Issued by

Brendan Laird, Senior Manager, Post Trade Operations

Contact information

Cheng Zhang
1800 623 571
cad@asx.com.au

OLD SIZE	NEW SIZE	OLD STRIKE (CENTS)	NEW STRIKE (CENTS)	Exercise
100	80	280	297	A
100	80	300	322	A
100	80	320	347	A
100	80	330	359	A
100	80	340	372	A
100	80	350	384	A
100	80	360	397	A
100	80	370	409	A
100	80	380	422	A
100	80	390	434	A
100	80	400	447	A
100	80	410	459	A
100	80	420	472	A
100	80	421	473	E
100	80	430	484	A
100	80	431	486	E
100	80	440	497	A
100	80	450	509	A
100	80	460	522	A
100	80	470	534	A
100	80	480	547	A
100	80	490	559	A
100	80	500	572	A
100	80	525	603	A
100	80	550	634	A
100	80	575	666	A
100	80	600	697	A

OLD SIZE	NEW SIZE	OLD STRIKE (CENTS)	NEW STRIKE (CENTS)	Exercise
100	80	280	297	A
100	80	300	322	A
100	80	320	347	A
100	80	330	359	A
100	80	340	372	A
100	80	350	384	A
100	80	360	397	A
100	80	370	409	A
100	80	380	422	A
100	80	390	434	A
100	80	400	447	A
100	80	410	459	A
100	80	420	472	A
100	80	421	473	E
100	80	430	484	A
100	80	431	486	E
100	80	440	497	A
100	80	450	509	A
100	80	460	522	A
100	80	470	534	A
100	80	480	547	A
100	80	490	559	A
100	80	500	572	A
100	80	525	603	A
100	80	550	634	A
100	80	575	666	A
100	80	600	697	A