ACTION: American Capital Ltd. (“ACAS”) has announced a Special Dividend valued at $1.07 per share. ACAS Stockholders will have the ability to elect to receive the dividend in the form of cash or additional ACAS shares, subject to prorations to ensure that in aggregate, 90% of the dividend is paid in stock and 10% in cash. Although ACAS Shareholders who do not make an election will be deemed to have elected to receive their dividend in stock, the exact mix of the consideration which will accrue to non-electing ACAS Shareholders is not known at this time. The cash or stock election must be received prior to 5:00 p.m. (EDT) on July 24, 2009.
The ex-distribution date is June 18, 2009. The payable date is August 7, 2009. The record date is June 22, 2009.
This action will be coordinated with the Options Clearing Corporation.
CATEGORY: Stock Distribution
EQUITY SYMBOL: American Capital Ltd. (“ACAS”)
ONE CHICAGO SYMBOL: ACAS1C will change to ACAS2C
CME FUTURES SYMBOL: ACA for the re-listed ACAS1C; AC7 for the ACAS2C
MULTIPLIER: 100 (e.g., 1.00 equals $100.00)
EFFECTIVE DATE: Thursday, June 18, 2009
NEW DELIVERABLE PER CONTRACT: For the ACAS2C:
1) 100 American Capital Ltd. (“ACAS”) Common Shares
2) Any additional amount of American Capital Ltd. (“ACAS”) Common Shares resulting from the $1.07 special dividend which will accrue to non-electing ACAS Shareholders (x 100)
3) Cash in lieu of fractional ACAS shares, if any*
4) Any additional amount of cash resulting from the $1.07 special dividend which will accrue to non-electing ACAS Shareholders (x 100)*
*The cash portion of the deliverable remains fixed.
For the re-listed ACAS1C:
100 American Capital Ltd. (“ACAS”) common shares.
APPLICABLE CONTRACT MONTHS: June, July, September, December 2009
SETTLEMENT PRICES AND POSITIONS: No change to price or quantity. Settlement activity will be delayed until the non-electing special dividend consideration is determined.
NOTES: The forecasted effect of the upcoming corporate event on each clearing firms’ positions can be viewed in infopac in the Corporate Event Initial Forecast Report (ONE712), the Corporate Event Final Forecast Report (ONE713), and the Corporate Event Forecast Audit Report (CPDBU710).
If you have any questions regarding the information provided in the document, please call CME Clearing risk management hotline at (312) 648-3888.