Shortening of ASX Timetables
The determination of ex periods for all relevant corporate actions and the establishment of special markets have been changed.
Shortened Ex Period
From 14 April 2014, shorter timetables for corporate actions including (but not limited to):
- traditional rights issues;
- new standard timetables for accelerated rights issues;
- reconstructions; and
- equal access schemes and off market buy backs,
will be effective.
In summary, the ex period for all relevant corporate actions (including those noted above) will be reduced from 5 business days to 3. This reduction will not apply to calls, conversion and expiries which have an effective date rather than an ex date.
ASX will also adopt a T + 2 settlement regime for special markets in the reduced ex period. Special markets are available for all pro-rata corporate events containing an ex period, i.e. dividends, rights issues, bonus issues and capital returns.
Any applicable corporate actions that institute an ex date that falls on or after 14 April 2014 will be subject to the new timetables.
Our global experience, together with our highly qualified te ..
The team at GRT Lawyers has successfully managed large and c ..
Click here to read our newsletter, 'The Specialist E-Ne ..