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Update, 07.09.2021
Corporate Action Information 002 provides the corrected final settlement prices for the open positions in MAN options contracts. In Corporate Action Information 001 it has been announced that the cash compensation per common share set by Traton SE (EUR 70.68 per share) would be used as the reference price for the calculation of the fair values. This price, however, is not applicable as a reference price. Instead, the last price of the MAN SE shares on the reference exchange on the last trading day is to be used. The last price is the Xetra opening auction price on 31 August 2021 which is EUR 74.00. Given other parameters as announced in in Corporate Action Information 001 the final settlement prices of the options contracts in question have been re-calculated using EUR 74,00 as reference price..
The re-calculated final settlement prices for the options contracts MAN are given in the table below.
Today, 07 September 2021, all participants with open positions will receive an additional information advising them on the correction balances with respect to the respective open positions. Also, the booking of the correction balances will take place today with value date 08 September 2021.
We hereby apologize for any inconvenience caused.
In a media release dated 31 August 2021, Traton SE has announced the implementation of the squeeze-out of the remaining MAN SE shareholders and the delisting of the shares of MAN SE. Pursuant to the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland, number 2.6.15, trading in options contracts on MAN SE shares is to be discontinued. Existing open positions in options contracts on MAN SE will be settled at the theoretical fair value.
As the reference price for the calculation of the fair values, the cash compensation per common share set by Traton SE is used. The cash compensation amounts to EUR 70.68 per share. Further, for each series an implied volatility has been defined. These volatilities have been calculated as an average of the implied volatilities of the daily settlement prices of the ten exchange days preceding the announcement of the delisting (17 August 2021 to 30 August 2021). The same volatility will be used for call and put of the same exercise price. In addition, implied interest rates have been used for the fair value calculations. Finally, the calculations of the implied volatilities as well as the determination of the fair values assumed a dividend payment of EUR 2.20 on the ex-date 19.05.2022.
Today, 01 September 2021, all participants with open positions will receive an information containing an overview of their respective open positions. Also, the booking of the cash balances will take place today with value date 02 September 2021. In the end-of-day processing of 02 September 2021 the positions will be booked out effective 03 September 2021.
Trading in shares of MAN SE and in options contracts on MAN SE ended on 31 August 2021 after close of trading.
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