Discontinuation of Futures and Options Contracts in the security
TV-18 - June 20, 2011
Dear Customer
Kindly note that Television Eighteen India Limited has informed the Exchange that the 'Record Date - June 22, 2011' for the purpose of determining the entitlement of the equity shareholders of Television Eighteen India Limited (Discontinued Company) to receive, pursuant to the scheme in the below manner. - Seventeen Fully Paid Equity Share in ibn18 (Resulting company) of the face value Rs. 2/- each for every Twenty Five Equity Share of Television Eighteen India Limited of Rs. 5/- each.
- Thirteen Fully Paid Equity Share in Network18 (Resulting company) of the face value of Rs.5/- each for every Hundred Equity Share of Rs. 5/- each held by the shareholders in TV18.
Taking the same into consideration there would be the following adjustments carried out in the Futures and Options contracts in the security.
- All existing contracts of TV18 i.e. contracts with expiry dates June 30, 2011, July 28, 2011 and August 25, 2011 will expire on June 20, 2011 and shall be finally settled at the relevant settlement price.
- The settlement price to be reckoned for the purpose of final settlement of existing contracts shall be the closing price of TV-18 in the Capital Market segment of NSE, on June 20, 2011.
- No futures and options contracts will be available in the underlying TV-18 for trading from June 21, 2011 onwards.
This is pursuant to NSE Circular No. 059/2011 dated June 15, 2011.
Please click here to view the detailed circular.
Regards
Team Sharekhan |
