Memo #17244 JULY 12, 2001 UNITED MICROELECTRONICS - 15% STOCK DIVIDEND OPTION SYMBOL: UMC EX-DATE: JULY 13, 2001
The Chicago Board Options Exchange (�CBOE�), The American Stock Exchange ("AMEX"), and The Pacific Exchange ("PCX") have advised The Options Clearing Corporation (�OCC�) that United Microelectronics (�UMC�) has announced a 15% Stock Dividend. The ex-distribution date is Friday, July 13, 2001. The payable date is has not yet been announced. The record date is July 17, 2001.
Pursuant to Article VI, Section 11, of OCC's By-Laws, all United Microelectronics options will be adjusted as follows:
Effective Date: Effective with the exercises of July 13, 2001and thereafter Option Symbol: UMC changes to EIG Number of Contracts: Unchanged Multiplier: 1.15 (e.g., for premium or strike dollar extensions 1.00 will equal $115) New Deliverable Per Contract: 115 United Microelectronics Common Shares CUSIP: 910873207
OLD STRIKE NEW STRIKE SERIES TICKER 7 1/2 6 1/2 X 10 8 3/4 Y 12 1/2 10 7/8 Z
Its Friday morning (EST) and I see UMC stock price is down about 15%. Today is the "ex-distribution date" If I buy shares today, will the stock dividend be added on? Since the stock price dropped this morning, it makes me think this wont be the case. As you can tell, I'm confused. Any help would be grately appreciated. -- John