Corporate actions
Jun 02, 2016

USG People N.V.: Takeover offer

In a joint press release on 22 December 2015, the companies USG People N.V. and Recruit Holdings Co. Ltd. announced that Recruit Holdings Co. Ltd. is planning to submit a voluntary public takeover offer to the USG People N.V. shareholders. According to the takeover offer, USG People N.V. shareholders will receive 17.50 euro in cash for each USG People N.V. registered share they hold.
For further information regarding this transaction, please refer to the website of the company
www.recruit-rgf.com.
In the following, please be informed on the potential effects this transaction will have on the existing Eurex options contract (UQU1) and the Eurex Single Stock Futures Contract (UQUF) on shares of USG People N.V.

Adjustment Result:

The company Recruit Holdings Co. Ltd announced on 01 June 2016 the fulfillment of all closing conditions and the settlement of the public takeover offer of USG People N.V. Accordingly, as described in Eurex circular 236/15 and pursuant to the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland and Eurex Zürich, number 1.6.7 (7) and 2.6.10.1 (7) existing positions in the series for the Eurex option contract on shares of USG People N.V will be settled at theoretical fair value.

Basis for determination of the fair value is the final offer price of EUR 17.50. Settlement of the options contract will take place effective 3 June 2016 based on the settlement prices of 1 June 2016. On 2 June 2016, all participants with open positions will receive a FAX containing an overview of their respective open positions. Booking of the cash amount will take place on 2 June 2016 with value date 3 June 2016. In the end-of-day batch processing of 3 June 2016, the positions will be booked out effective 6 June 2016. In the Future contract (UQUF) no settlement will take place, as there are no open positions.
For a list of theoretical fair values (final settlement prices) for the respective series of the Eurex option contract on shares of USG People N.V, please refer to the attachment. 

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