• Corporate Events: Darwin Professional Underwriters, Inc. (“DR”)

      • To
      • Clearing Member Firms
      • From
      • CME Clearing
      • #
      • 08-284
      • Notice Date
      • 21 October 2008
      • Effective Date
      • 21 October 2008
    •  

       

      MEMO # 08-284                                                DATE: 10/20/08
       
      ACTION:                                                           On October 15, 2008, Shareholders of Darwin Professional Underwriters, Inc. (“DR”) voted concerning the proposed merger with Allied World Merger Company, an indirect wholly owned subsidiary of Allied World Assurance Company Holdings, Ltd. The merger was approved and subsequently consummated on October 20, 2008. As a result, each existing DR Common Share will be converted into the right to receive $32.00 net cash per share.
       
                                                                              This action will be coordinated with the Options Clearing Corporation.
       
      CATEGORY:                                                     Cash Settlement
                                                                             
      EQUITY SYMBOL:                                            Darwin Professional Underwriters, Inc. (“DR”)
       
      ONE CHICAGO SYMBOL:                                 DR1C will be de-listed
       
      CME FUTURES SYMBOL:                                 DR9 will be de-listed
       
      MULTIPLIER:                                                   100 (e.g., 1.00 equals $100.00)
                                                                             
      EFFECTIVE DATE:                                           Tuesday, October 21, 2008
       
      NEW DELIVERABLE PER CONTRACT:             $3,200 ($32.00 x 100)
       
      APPLICABLE CONTRACT MONTHS:                 November, December 2008 and March, June 2009
       
      SETTLEMENT PRICES AND POSITIONS:         The maturity date for all DR1C Security Futures will be accelerated to October 21, 2008.
                                                                             
      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.

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