Hong Kong Exchanges and Clearing Limited (HKEx) announced the arrangements for the adjustment to the contract terms of all open Hong Kong & China Gas futures and options contracts in existence after the market close on 6 June 2012, the business day immediately before the ex-bonus day, which is 7 June 2012, to account for Hong Kong & China Gas’s one bonus share forevery 10 existing shares.
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.
| Underlying Stock (Stock Code) |
The Hong Kong and China Gas Company Limited (3) |
|
Corporate Action |
1 bonus share for every 10 existing shares |
|
Ex-bonus day |
7 June 2012 |
For details of the bonus issue of shares, please refer to the announcements made by Hong Kong & China Gas on 19 March 2012.
Hong Kong & China Gas Futures
Adjustment Procedures
Adjustments will be made to the open positions of Hong Kong & China Gas futures contracts which exist after the market close on 6 June 2012, the business day immediately before the ex-bonus day. The details of the adjustment procedures are as follows:
|
Adjustment Term |
Formula |
Remarks |
|
Adjustment Ratio (AR) |
10 shares / (10 shares + 1 bonus share) |
Rounded to the nearest 4 decimal places |
|
Adjusted Contracted Price (ACP) |
Contracted prices of outstanding stock futures contract × AR |
Rounded to the nearest 2 decimal places |
|
Adjusted Contract Multiplier (ACM) |
Contracted prices of outstanding stock futures contract x (1,000 shares / ACP) |
Rounded to the nearest 4 decimal places |
Trading of Adjusted and Standard Contracts
After the market close on 6 June 2012, the business day immediately before the ex-bonus day, the open positions will be transferred to the adjusted futures contracts. In addition, new contracts based on the standard contract multiplier will be introduced for trading on the ex-bonus day, 7 June 2012. Details of the adjusted and standard contracts available for trading on and after the ex-bonus day are shown below:
|
Contract |
Trading Symbol |
Contract Multiplier(Shares) |
Availability For Trading |
Addition of New Futures Contracts on and after the Ex-bonus day |
|
Adjusted |
HKA |
ACM |
From ex-bonus day to 28 December 2012 |
No |
|
Standard |
HKG |
1,000 |
From ex-bonus day onwards |
Yes |
Investors should note that the cash settlement amount of adjusted and standard futures contracts on the last trading day will be calculated using their respective contract multipliers. There will not be any changes to the number of open positions and other contract terms after the transfer of positions.
Hong Kong & China Gas Options
Adjustment Procedures
Adjustments will be made to the open positions of Hong Kong & China Gas options contracts which exist after the market close on 6 June 2012, the business day immediately before the ex-bonus day. The details of the adjustment procedures are as follows:
|
Adjustment Term |
Formula |
Remarks |
|
Adjustment Ratio (AR) |
10 shares / (10 shares + 1 bonus share) |
Rounded to the nearest 4 decimal places |
|
Adjusted Exercise Price (AEP) |
Exercise price of outstanding option series x AR |
Rounded to the nearest 2 decimal places |
|
Adjusted Contract Size (ACS) |
Exercise price of outstanding option series x (1,000 shares / AEP) |
Rounded to the nearest 4 decimal places |
Trading of Adjusted and Standard Contracts
After the market close on 6 June 2012, the business day immediately before the ex-bonus day, the open positions will be transferred to the adjusted option series. In addition, new option series based on the standard contract size will be introduced for trading on the ex-bonus day, 7 June 2012. Details of the adjusted and standard contracts available for trading on and after the ex-bonus day are shown below:
|
Contract |
Trading Symbol |
Contract Size(Shares) |
Availability For Trading |
Addition of New Option Series on and after |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Adjusted |
HKA |
ACS |
From ex-bonus day to 27 March 2013 |
No |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Standard |
HK Hong Kong Exchanges and Clearing Limited (HKEx) announced the arrangements for the adjustment to the contract terms of all open Hong Kong & China Gas futures and options contracts in existence after the market close on 6 June 2012, the business day immediately before the ex-bonus day, which is 7 June 2012, to account for Hong Kong & China Gas’s one bonus share forevery 10 existing shares. 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.
For details of the bonus issue of shares, please refer to the announcements made by Hong Kong & China Gas on 19 March 2012. Hong Kong & China Gas Futures Adjustment Procedures Adjustments will be made to the open positions of Hong Kong & China Gas futures contracts which exist after the market close on 6 June 2012, the business day immediately before the ex-bonus day. The details of the adjustment procedures are as follows:
Trading of Adjusted and Standard Contracts After the market close on 6 June 2012, the business day immediately before the ex-bonus day, the open positions will be transferred to the adjusted futures contracts. In addition, new contracts based on the standard contract multiplier will be introduced for trading on the ex-bonus day, 7 June 2012. Details of the adjusted and standard contracts available for trading on and after the ex-bonus day are shown below:
Investors should note that the cash settlement amount of adjusted and standard futures contracts on the last trading day will be calculated using their respective contract multipliers. There will not be any changes to the number of open positions and other contract terms after the transfer of positions. Hong Kong & China Gas Options Adjustment Procedures Adjustments will be made to the open positions of Hong Kong & China Gas options contracts which exist after the market close on 6 June 2012, the business day immediately before the ex-bonus day. The details of the adjustment procedures are as follows:
Trading of Adjusted and Standard Contracts After the market close on 6 June 2012, the business day immediately before the ex-bonus day, the open positions will be transferred to the adjusted option series. In addition, new option series based on the standard contract size will be introduced for trading on the ex-bonus day, 7 June 2012. Details of the adjusted and standard contracts available for trading on and after the ex-bonus day are shown below:
Investors should note that the adjusted and standard option series have different contract sizes. There will not be any changes to the number of open positions and other contract terms after the transfer of positions. G |
1,000 |
From ex-bonus day onwards |
Yes |
Investors should note that the adjusted and standard option series have different contract sizes. There will not be any changes to the number of open positions and other contract terms after the transfer of positions.
