In pursuance of Exchange notice number 20180710-26 regarding Review of Adjustment of corporate actions for stock options, and in line with SEBI Master circular No SEBI/HO/MRD/DP/CIR/P/2016/135 dated December 16, 2016 trading members of Equity Derivatives Segment are hereby informed the following:
Company CHENNAI PETROLEUM CORPORATION LTD (Derivative Asset code – CPCL, Equity Scrip Code - 500110) has informed Exchange that the Company has fixed August 16, 2018 as the Record Date for the purpose of Payment of Final Dividend at the rate of Rs. 18.50 per equity share of face value of Rs. 10/- each for the financial year 2017-18.
In view of the above, the Exchange shall make the necessary adjustments for all the available Futures & Options contracts on the underlying scrip CHENNAI PETROLEUM CORPORATION LTD (Derivative Asset code – CPCL) on Monday, August 13, 2018, the ‘ex-date’ being Tuesday, August 14, 2018.
A) Adjustments for Options Contracts: The full value of dividend i.e. Rs. 18.50/- shall be deducted from all strike prices generated at the end of August 13, 2018 and adjusted strike prices shall be available for trading w.e.f August 14, 2018.
Few illustrations of current strike price of August 13, 2018 to be adjusted w.e.f August 14, 2018 on account of corporate action in security CHENNAI PETROLEUM CORPORATION LTD are as follows.(for example purpose)
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Sr.No
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Existing Strike Price
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Dividend Amount in Rs.to be deducted
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Adjusted Strike Price after deducting dividend
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Adjusted strike price after rounding (round down)
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1
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290
|
18.50
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271.5
|
271
|
|
2
|
300
|
18.50
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281.5
|
281
|
|
3
|
310
|
18.50
|
291.5
|
291
|
|
4
|
320
|
18.50
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301.5
|
301
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B) Adjustments for Futures Contracts: The adjusted futures price will be arrived at reference rate less dividend amount Rs.18.50/-.The reference rate used will be daily mark to market settlement price of the relevant futures contract on August 13, 2018. The adjusted rate shall be applicable as a base rate / previous close for trading with effect from August 14, 2018.
For further details members are requested to contact their respective relationship manager.
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For & on behalf of BSE Ltd,
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Ketan Jantre
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Sandeep Pujari
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Sr. GM – Trading Operations
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AGM – Trading Operations
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