Participant
Technical Services
Credential Services
Listed Company
Professional Adviser
Information Provider
Information Services
AMO
Notice
Altium Limited (ASX code: ALU) have released the scheme booklet for the proposed Scheme of Arrangement with Renesas Electronics NSW Pty Ltd, an indirect wholly owned subsidiary of Renesas Electronics Corporation (TSE: 6723), to acquire 100% of the shares in ALU.
The scheme is still subject to shareholders and court approvals.
If this scheme is approved, ALU shareholders will receive a cash consideration of $68.50 reduced by the value of any future dividends for each ALU share held on the scheme record date. ALU will subsequently be delisted from the ASX.
The indicative timetable (from the ETO’s perspective) is:
ALU Scheme Meeting |
Friday, 12 July 2024 |
Court Hearing to approve the Scheme (Second Court Date) |
Thursday, 18 July 2024 |
Scheme Effective Date |
Friday, 19 July 2024 |
Last day of trading in ALU shares - |
Friday, 19 July 2024 |
Scheme Record Date |
Thursday, 25 July 2024 |
Scheme of Arrangement Termination Implications for ALU ETOs
According to the terms of the scheme, ALU shares will cease trading after the scheme becomes effective. ASX has consulted ASXCL and has determined to terminate all ALU ETOs contracts by cash settlement at the intrinsic value with the ALU reference price to be ASX closing price for ALU on Friday, 19 July 2024.
Option positions held at the close of business on Friday, 19 July 2024 will be closed out and cash settled at the intrinsic value. Takers will be credited and writers debited. The intrinsic value method is equivalent to the expiry of the options effectively brought forward to the last day of trading of the underlying security. ASXCL will settle these cash amounts on the next business day – Monday, 22 July 2024.
Exercise Restriction
An exercise restriction will be placed on ALU ETOs on the last day of trading on the ASX - Friday, 19 July 2024.
Listing Restriction
To mitigate the number of terminations in ALU ETO contracts, a listing restriction on ALU ETOs has been applied.
No further ALU series will be listed.
What do I need to do by when?
Participants to be aware of the adjustment method ASX ALU ETOs contracts for the proposed Scheme of Arrangement.
Effective Date
A further ASX Notice will be released after the closing of trading on Friday, 19 July 2024 outlining the termination prices for ALU ETOs.
Need more information?
Issued by
Greg Fitzpatrick, Senior Manager, Clearing Operations
Contact information
William Ward
clearing@asx.com.au