On 12 December 2025, AMCOR PLC (ASX Code: AMC) announced the details of a Share Consolidation of 1 share for every 5 pre Share Consolidation shares held. The Share Consolidation has a record date of Wednesday, 14 January 2026.

Indicative timetable impacting AMC ETOs

Implications for AMC ETOs

ASX Clear will determine an adjustment to AMC ETOs for the share consolidation under ASX Operating Rule 2230. Subject to the consolidation being effective the contract size will be decreased by a ratio of 1 for 5. The number of options contracts registered as open contracts in the name of each writer and taker will remain the same. The new exercise price per lot is proportionally increased to 5 times the old exercise price (5:1), with the exception being that for LEPOs the new strike will be rounded back to 1 cent and a corresponding cash adjustment made.

Effective Date

All trading in AMC ETO contracts will be on an adjusted basis effective on Tuesday, 13 January 2026.

This standard method of adjustment will be processed on Monday, 12 January 2026 after market close. ASX will calculate and perform the following adjustments on open positions.

Contract Size

Theoretical New Contract Size = Old Contract Size x Issue Ratio

TC = OC x Issue Ratio

Where

TC = Theoretical New Contract Size

OC = Original Contract Size (100)

Issue Ratio = Consolidation amount provided (1 share for every 5 = 1/5 = 0.20)

e.g. for 100 contract size:

New Size = 100 x (0.20)

New Size = 20

Exercise Price

The issue ratio (Strike Factor) has been determined as 0.20, the consolidation details of 1 for 5 shares provided in the AMC announcement.

The theoretical new contract size is calculated to the nearest four decimal points in the intermediate calculation for the new exercise price.

New Exercise Price = Old Strike Price / Issue Ratio

e.g. For 100 contract size and an old strike price of $12.00

New Strike = $12.00 / 0.20

New Strike = $60.00, New Size = 20

Cash Adjustment Payments made for Contract Size Rounding

The difference, due to truncation, between the theoretical contract size and the adjusted (new) contract size, will be cash adjusted using the ETO cash equalization adjustment payment formula detailed in the final notice.

For cash equalisation payments for any contract size rounding, takers (buyer) will be credited and writers (sellers) will be debited. (Note, for share consolidations, it is possible for a LEPO taker (buyer) to be debited if the LEPO strike is adjusted back to 1 cent after initial rounding).

Specific Cover

Specific cover will not be acceptable for AMC ETOs from the commencement of the deferred settlement period until the AMC share registry has completed the share conversion. All AMC specific covered positions will be converted to general on Monday 12 January 2026, with any shortfall required to be covered on Tuesday 13 January 2026.

Specific cover will be available post consolidated period.

Exercise Restriction

Exercises of AMC ETOs will be restricted on the last day of trading of pre-consolidated shares, Monday, 12 January 2026.

OTC series

Any OTC series cleared by ASXCL under the ASX Equity OTC Clear service will be adjusted using the same formula as the ETOs as shown in this Notice.

To maintain anonymity, the adjusted OTC series details will not be published in the Notice but will be available to clearing participants the following morning via their own clearing systems.

ETO exercise restrictions in relation to an adjustment may occur during the period of 10 business days prior to and including expiry and will also apply to OTC series. However, such exercise restrictions will not apply on expiry day of an OTC.

What do I need to do by when?

A subsequent notice will be issued after close of trading, Monday, 12 January 2026 which will outline the adjusted ETOs.

Need more information?

Issued by

Greg Fitzpatrick, Senior Manager, Clearing Operations

Contact information

Clearing Operations

clearing@asx.com.au

Disclaimer