On Tuesday 23 August 2022, Telstra Corporation Limited (ASX code: TLS) announced the proposed restructure of Telstra Corporation Limited (ASX Code: TLS) to become Telstra Group Limited (ASX Code: TLS) - subject to shareholders approval. The shareholder vote is scheduled to be held on Tuesday 11 October 2022.

The allotment of Telstra Corporation Limited (ASX Code: TLS) securities to Telstra Group Limited (ASX Code: TLS) securities will be on a 1:1 basis.

The underlying security for TLS ETO will be changed to Telstra Group Limited rather than Telstra Corporation Limited. There will be no adjustment to TLS ETOs contract size or strikes. The option underlying security code will remain as TLS including over the deferred settlement period.

Deferred trading of the new Telstra Group securities will commence on Friday 21 October 2022 and move to normal settlement on Monday 1 November 2022.

 TLS ETOs exercised from trade date 21 October 2022 until 1 November 2022, will have a deferred settlement period and will settle on Thursday 3 November 2022.

No Exercise restrictions will be placed on TLS ETOs over this period, including the monthly expiry to occur on 20 October 2022.

Participants should note that any option exercise that results from the October monthly expiry of TLS ETO's on 20 October 2022, the equity settlement obligation will be on a deferred settlement basis and will settle on 3 November 2022.

What do I need to do by when?

Participants will need to exercise TLS ETOs prior to the Thursday 20 October 2022 to avoid the deferred settlement period.

Need more information?

Issued by

Will Ward, Clearing Operations

Contact information

Will Ward
clearing@asx.com.au

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