• Corporate Events; Philadelphia Consolidated Holding Corp. (PHLY)

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      • Clearign Member Firms
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      • CME Clearing
      • #
      • 08-377
      • Notice Date
      • 02 December 2008
      • Effective Date
      • 02 December 2008
    • ACTION:                                                           On October 23, 2008, Shareholders of Philadelphia Consolidated Holding Corp. (PHLY) voted concerning the proposed merger with Tokio Marine Holdings, Inc. The merger was approved and subsequently consummated on December 1, 2008. As a result, each existing PHLY Common Share will be converted into the right to receive $61.50 net cash per share.
       
                                                                              This action will be coordinated with the Options Clearing Corporation.
       
      CATEGORY:                                                     Cash Settlement
                                                                             
      EQUITY SYMBOL:                                            Philadelphia Consolidated Holding Corp. (PHLY)
       
      ONE CHICAGO SYMBOL:                                 PHLY1C will be de-listed
       
      CME FUTURES SYMBOL:                                 PHL will be de-listed
       
      MULTIPLIER:                                                   100 (e.g., 1.00 equals $100.00)
                                                                             
      EFFECTIVE DATE:                                           Tuesday, December 2, 2008
       
      NEW DELIVERABLE PER CONTRACT:             $6,150 ($61.50 x 100)
       
      APPLICABLE CONTRACT MONTHS:                 December 2008 and January, March, June 2009
       
      SETTLEMENT PRICES AND POSITIONS:         The maturity date for all PHLY1C Security Futures will be accelerated to December 2, 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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