Derivatives: Anticipated adjustment in Norwegian Air Shuttle due to reverse split and rights issue (129/20)
The following information is based on a press release from Norwegian Air Shuttle ASA (NAS) published on December 3, 2020.
The Board of NAS has proposed that the Extraordinary General Meeting (EGM), scheduled for December 17, 2020 approves a reverse stock split whereby one hundred (100) existing shares will be consolidated into one (1) new share. In addition, the Board proposes a rights issue that terms and subscription price are yet to be decided. The scheduled Ex-date is December 18, 2020. Provided that the EGM approves the reverse split and rights issue, NASDAQ Derivatives Markets will carry out a recalculation of options, regular and gross return forwards/futures in NAS (NAS).
For more information please see the attached file.
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