Westfield Corporation – Implication of WFD ETOs under proposed acquisition by Unibail-Rodamco and OneMarket Demerger

Market Participants and ASX Clear (ASXCL) Participants are advised that Westfield Corporation (ASX code: WFD) have announced a Securityholder Booklet regarding the proposed acquisition by Unibail-Rodamco.  The new group will be issuing CHESS Depositary Interest (“CDI”) on ASX, which will be fully exchangeable with the new Group’s stabled securitise listed in Amsterdam and Paris. 

Westfield Corporation have also announced the Demerger booklet for OneMarket Limited’s demerger from Westfield.  OneMarket Limited will become a separate listed company on ASX post demerger. 

The demerger is conditional on the Unibail-Rodamco acquisition of Wesfield proceeding, but the Unibail-Rodamco acquisition of Westfield is not conditional on the demerger occurring. Both transactions are subject to Securityholders and court’s approvals. 

Termination Implications for WFD ETOs

According to the terms of the transactions, Westfield shares will cease trading after the transactions becoming effective.  ASX has consulted ASXCL on the implications for WFD ETOs in relation to the transactions.  ASX will NOT list ETOs over the new Unibail-Rodamco CDIs and/or OneMarket Limited at the time when the securities commence trading. 

Westfield ETOs will be terminated on the last trading day of Westfield shares. The basis price for the Westfield ETOs will be that of the last traded price of Westfield shares. 

Exercise Restriction

Exercises will be restricted on the last day of trading of WFD shares on ASX. 

What do I need to do by when?

Participants should be aware of the content of this Notice as it sets out the treatment of the termination with respect to open positions in ASX WFD ETO contracts. 

Effective Date

A further ASX Notice will be released after the close of trading on Wednesday, 30 May 2018 setting out the table of termination prices

Need more information?

Issued by

Cheng Zhang, Post Trade Operations

Contact information

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

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