Since the general meeting of shareholders will be held at 9:00 a.m. on July 31 Shanghai time, this corresponds to 9:00 PM EDT on July 30.
This is will probably be the most important meeting for this company, since it will no longer exist if the merger is approved. What is surprising is that there is no mention of this meeting on the Montage website.
The current share price is 21.58
If the cash settlement price is 22.60, this would give shareholders a profit of $1
It appears that the shares should be trading closer to 22.60
Is this $1 discrepancy in price due to the possibility that the merger may not go through?
Anyone notice Friday's 2,000 option volume for each of the Oct 80.00 calls and the Oct 50.00 puts?
Did someone do a straddle? With the possibility of increased volatility and price movement, this looks like a good strategy.
TO: ALL CLEARING MEMBERS
DATE: JULY 22, 2014
SUBJECT: MONTAGE TECHNOLOGY GROUP LTD. – ANTICIPATED CASH SETTLEMENT
OPTION SYMBOL: MONT
On July 31, 2014, Shareholders of Montage Technology Group Ltd. (MONT) will vote concerning the proposed merger with a wholly-owned subsidiary of Shanghai Pudong Science and Technology Investment Co., Ltd. If the merger is approved and consummated, each existing MONT Common Share will be converted into the right to receive $22.60 net cash per share, less withholdings, if any.
DATE: Effective the opening of the business day after the merger is consummated.
PER CONTRACT: $2,260.00 Cash ($22.60 x 100), less withholdings, if any
Settlement in MONT options will take place through OCC’s cash settlement system. Settlement will be accomplished by payment of the difference between the extended strike amount and the cash deliverable.
ACCELERATION OF EXPIRATIONS
Pursuant to OCC Rule 807, equity stock option contracts whose deliverables are adjusted to call for cash-only delivery will be subject to an acceleration of the expiration dates for outstanding option series (See OCC Information Memo 23988).
I bought some Aug 655/635 bear put spreads for a debit of 5.70
These should give me some time for a price movement. I like spreads because draw down will be minimal if it continues to rise.
The Gov needs to shut down the websites which are selling these drugs. I guess they will have to go after the website hosts next and charge them for being in collusion with the sellers of these drugs?
Of course they would not use GoPro brand cameras on the planes. Doesn't it make you wonder why there are no video cameras on planes. They are still not sure about what had downed TWA flight 800. If they just had cameras on the external surface of the planes, it would answer a lot of questions.
There will no longer be any question about what caused a plane crash, if caused by an external threat.
Ever since the TWA Flight 800 crash, they have also been talking about mounting a few video cameras on the exterior of the plane. This would give us a positive indication if the plane has been attacked by a missile.
Also, there should be video cameras in the cockpit and passenger compartment of every plane. The problem is the pilots, airline employees, and even passengers are opposed to this.
Planes today are flying blind.
I agree! There are a lot of stupid people on this board. When they do not know an answer, they have to resort to name calling.
Most of the stock purchases by Frost were indirect transactions. Maybe exercising options?
Should these transactions be given the same consideration as if they were direct transactlons?
In Feb. 2014, when it was 1800, he said it would reach 1900 by the second quarter.
I noticed that the SPY has Dec 2016 options. Anyone evaluated these for a trade?
Enter the above title into YouTube
This is a video side-by-side comparison of the two camcorders.