Whole Section

  • 18.10 Adjustments

    • 18.10.1 Adjustments in the Event of a Distribution

      In the event of a distribution in respect of any underlying securities, the number of outstanding Options and/or the Standard Quantity and/or the Exercise Price with respect to all Options outstanding in those underlying securities shall be adjusted, effective on the relevant "ex-date" of dealings in the underlying securities in the Equity Market in accordance with this clause.

    • 18.10.2 Rounding Off Fractions

      The adjusted Exercise Price shall be rounded to the nearest 1 cent and the adjusted Standard Quantity shall be rounded to the nearest whole share.

    • 18.10.3 Bonus Issue

      (1) In the case of a bonus issue whereby the issuer of the underlying securities issues 1 or more bonus shares in respect of each existing share, the Standard Quantity shall be increased by the same number of shares issued in respect of each existing share, and the Exercise Price shall be proportionately reduced. No adjustment in the number of Options outstanding shall be made.
      (2) In the case of a bonus issue where the issuer of the underlying securities issues less than 1 bonus share in respect of each existing share, the Exercise Price shall be proportionately reduced. Whenever the Exercise Price has been reduced in accordance with this clause, the Standard Quantity shall be proportionately increased. No adjustment in the number of Options outstanding shall be made.
    • 18.10.4 Rights Issue

      In the case when underlying securities become entitled to rights, the Exercise Price for the underlying securities ex rights shall be calculated by deducting from the Exercise Price for the underlying securities the value of the rights accruing to such underlying securities calculated on the last done price, or in the case where the underlying securities is a Prescribed Security, the closing price, of the underlying securities on the last day on which such underlying securities are traded cum rights, unless otherwise determined by SGX-ST.

      Amended on 24 February 201424 February 2014.

    • 18.10.5 Other Distribution

      In the case of any distribution for which adjustment is not provided in any of the foregoing clauses, or in the case of any event for which adjustment is provided in one of the foregoing clauses but is not considered by SGX-ST to be appropriate under the circumstances, SGX-ST shall make such adjustments in the Exercise Price, Standard Quantity or number of Options with respect to the Options affected by such event as SGX-ST in its sole discretion determines to be fair to the Purchasers and Writers of such Options.

    • 18.10.6 Dividends

      In the event of a dividend declared in respect of any underlying securities, no adjustments shall be made to the number of outstanding Options or the Standard Quantity or the Exercise Price with respect to all Options outstanding in those underlying securities.