HKEX: Adjustment of FIH Mobile Structured Products, Futures and Options
OREANDA-NEWS. Hong Kong Exchanges and Clearing Limited (HKEX) has announced the arrangements for the adjustment to FIH Mobile Ltd (FIH Mobile) structured products, futures and options to account for FIH Mobile's distribution of a special dividend.
Overview
|
Company (Stock Code) |
FIH Mobile Ltd (2038) |
|
Corporate Action |
Special Dividend of US$0.019 per share |
|
Ex-date |
31 May 2016 |
The special dividend amount per share in Hong Kong dollars (to be rounded up to two decimal places, if necessary) will be calculated at the rate of exchange quoted by FIH Mobile's relevant banker at its middle rate of exchange prevailing on the date of the Annual General Meeting which will be held on 25 May 2016. More details of the capital adjustment will be announced in due course.
Highlights of the adjustment arrangements are set forth below. Investors should consult their brokers for further details, or if they have any questions regarding the adjustment.
Structured products with shares of FIH Mobile as underlying asset
The listing documents of all existing structured products with the shares of FIH Mobile as underlying asset contain provisions that deal with a cash distribution, including a special dividend. Structured product issuers will make announcements in the evening of 30 May 2016 regarding the adjustments (including the adjusted entitlement and adjusted exercise price) and investors should read the contents of such announcements carefully.
FIH Mobile Futures
Trading Arrangements
The trading arrangements for the existing FIH Mobile stock futures under trading symbol FIH will be as follows:
| 1. |
Adjustment and Transfer of Outstanding Positions Open positions of FIH Mobile stock futures under trading symbol FIH which exist after the market close on the business day immediately before the ex-date will be adjusted and transferred to stock futures under trading symbol FIB. |
| 2. |
Introduction of New Stock Futures for Trading On the ex-date, new FIH Mobile stock futures based on the standard contract multiplier will be introduced for trading under the standard trading symbol FIH. |
|
Adjustment Ratio (AR) |
(underlying stock closing price – ordinary dividend - special dividend) / |
Rounded to the nearest |
|
Adjusted Contracted Price (ACP) |
Contracted price of outstanding stock futures x AR |
Rounded to the nearest 2 decimal places |
|
Adjusted Contract Multiplier (ACM) |
Contracted price of outstanding stock futures x (1,000 shares / ACP) |
Rounded to the nearest 4 decimal places |
|
Adjusted |
FIB |
ACM |
From ex-date to 29 December 2016 |
No |
|
Standard |
FIH |
1,000 |
From ex-date onwards |
Yes |
Investors should note that the adjusted and standard stock futures have different contract multipliers. There will not be any changes to the number of open positions and other contract terms after the transfer of positions.
FIH Mobile Options
Trading Arrangements
The trading arrangements for the existing FIH Mobile stock options under trading symbols FIH and FIA will be as follows:
| 1. |
Adjustment and Transfer of Outstanding Positions Open positions of FIH Mobile stock options under trading symbols FIH and FIA which exist after the market close on the business day immediately before the ex-date will be adjusted and transferred to stock options under trading symbols FIB and FIC respectively. |
| 2. |
Introduction of New Stock Options for Trading On the ex-date, new FIH Mobile stock options based on the standard contract size will be introduced for trading under the standard trading symbol FIH. |
Details of the adjustment procedures for FIH Mobile stock options under trading symbol FIH are as follows:
|
Adjustment Ratio (AR) |
(underlying stock closing price – ordinary dividend – special dividend) / |
Rounded to the nearest 4 decimal places |
|
Adjusted Exercise Price (AEP) |
Exercise price of outstanding stock options x AR |
Rounded to the nearest 2 decimal places |
|
Adjusted Contract Size (ACS) |
Exercise price of outstanding stock options x (1,000 shares / AEP) |
Rounded to the nearest 4 decimal places |
|
Adjusted |
FIB |
ACS |
From ex-date to 30 March 2017 |
No |
|
Standard |
FIH |
1,000 |
From ex-date onwards |
Yes |
Details of the adjustment procedures for FIH Mobile stock options under trading symbol FIA are as follows:
|
Adjustment Ratio (AR) |
(underlying stock closing price – ordinary dividend – special dividend) / |
Rounded to the nearest 4 decimal places |
|
Adjusted Exercise Price (AEP) |
Exercise price of outstanding stock options x AR |
Rounded to the nearest 2 decimal places |
|
Adjusted Contract Size (ACS) |
Exercise price of outstanding stock options x (ACS*Note / AEP) |
Rounded to the nearest 4 decimal places |
|
Adjusted |
FIC |
ACS |
From ex-date to 29 June 2016 |
No |
|
Adjusted |
FIA |
ACS* |
Not available for trading from |
No |
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