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CIRCULAR 045-14 March 31, 2014
FINAL CONTRACT ADJUSTMENT Shoppers Drug Mart Corporation (SC) Plan of Arrangement THE FOLLOWING INFORMATION IS PREPARED FOR THE CONVENIENCE OF CANADIAN DERIVATIVES CLEARING CORPORATION (CDCC) MEMBERS AND BOURSE DE MONTRÉAL INC. (THE BOURSE) APPROVED PARTICIPANTS. THIS DOCUMENT IS AN UNOFFICIAL SUMMARY OF CERTAIN TERMS OF THE AFOREMENTIONED ADJUSTMENT. CDCC AND THE BOURSE ACCEPT NO RESPONSIBILITY FOR THE ACCURACY OR COMPLETENESS OF THE SUMMARY. CDCC MEMBERS AND BOURSE APPROVED PARTICIPANTS MUST ENSURE THEY HAVE REVIEWED THE DOCUMENTATION PUBLISHED BY THE ISSUERS INVOLVED IN THIS CORPORATE ACTION.
The Bourse and CDCC wish to inform you that the common shares of Shoppers Drug Mart Corporation (« Shoppers ») will be delisted from the Toronto Stock Exchange at the close of business March 31, 2014 as a result of a plan of arrangement through which Loblaw Companies Limited (« Loblaw ») acquired all of the issued and outstanding shares of Shoppers. Under the terms of the agreement, Shoppers shareholders will receive for each Shoppers share, approximately $26.53 CDN in cash and approximately 0.7363 Loblaw shares.
Shoppers Drug Mart Corporation (SC) CDCC - Adjustment Details: Pursuant to Terms of Adjustment provided in Section A-902 of the Rules of CDCC, all Shoppers options will be adjusted as follows: ¾ EFFECTIVE DATE:
April 1st, 2014
¾ OPTIONS SYMBOL:
SC will become L1
¾ NUMBER OF CONTRACTS:
Unchanged
¾ MULTIPLIER:
100
Tour de la Bourse P.O. Box 61, 800 Victoria Square, Montréal, Quebec H4Z 1A9 Telephone: (514) 871-2424 Toll-free within Canada and the U.S.A.: 1 800 361-5353 Website: www.m-x.ca
Circular no.: 045-2014
Page 2
¾ NEW DELIVERABLE PER CONTRACT:
A cash consideration of approximately $ 2,653 CDN, approximately 73 Loblaw common shares and a cash consideration approximately equivalent to 0.63 Loblaw share (Based on the closing price of Loblaw on March 31, 2014). A follow-up circular will confirm the amount.
¾ STRIKE PRICES:
Unchanged
¾ POSITION AND EXERCISE LIMITS:
The position and exercise limits will be fixed at 250,000 contracts.
¾ CUSIP :
NOTACUSIP
CDCC will not accept escrow receipts on these adjusted series Bourse de Montréal Inc. - Adjustment Details: It is important to note that on the effective date mentioned above, all open orders on this option class will not be automatically modified to reflect the plan of arrangement and will therefore have to be re-entered into the Montreal Automated System (SAM) by the approved participants. The existing series of SC options class will be transferred to the L1 options class representing the new deliverable. Please note that only closing transactions will be permitted on the adjusted class. Actual series that do not have open interest will not be adjusted.
PLEASE ENSURE THAT ALL CLIENTS WHO HAVE EITHER LONG OR SHORT POSITIONS IN THIS OPTION CLASS ARE ADVISED OF THIS NOTICE. For further information, please contact Louise Leclair, Trading Systems Analyst Market Operations, Bourse de Montréal Inc. at (514) 871-3526. CDCC clearing members may contact the Member Services Department.
Claude Cyr Senior Vice-President, Financial Market
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