As communicated in Exchange Notice 14/14, Volkswagen Aktiengesellschaft (Volkswagen) has announced a cash offer to acquire all outstanding shares of Scania AB (Scania), whereby every one (1) Scania share held entitles their holder to a cash payment of SEK 200.
On May 13, 2014, Volkswagen announced that all conditions for completion of the Offer have been fulfilled.
NASDAQ OMX has approved the delisting application received from Scania, the last trading day in the Scania share is June 5, 2014.
As stipulated in the Rules and Regulations of NASDAQ OMX Derivatives Markets 3.5.3.7 the Fair Value adjustment shall be carried out in connection to the de-listing of the Contract Base, alternatively, when trading in the underlying share is considered to be insufficient to support related derivatives trading. The new Expiration Day has been set to May 23, 2014. NASDAQ OMX Derivatives Market will calculate the Fair Value for the Option, Forward and Future contracts.
Following an adjustment, an ordinary Expiration procedure shall be performed on the New Expiration Day and, in addition, there will be a cash settlement of the difference between the contracts theoretical value (Fair Value) and intrinsic value.
For further information concerning this exchange notice please se the attached file, or contact Emelie Bergstrand +46 8 405 6886 or Andreas Karlsson +46 8 405 7378.
