Announcement date

The date at which the company announces the event officially

Exdate

The date at which the shares trade trade for the new prices for the first time. For example if the rights issue has an exdate of 24.07.2009 this will mean that all shares traded up until 23.03.2009 will be bought

Record date

Date at which holdings are being taken in order to calculate entitlements

Ratio

The ratio at which the shares are going to be reduced

Parent line

The Line that is going to be reverse split

Fractional Line

The line on which fractions as a result of applying the ratio will be left in order to cash them out. For more about fractions please check our

Resultant line

The resultant line shares are the security that holders of the rights can subscribe to by exercising the rights in the rights issue. These can generally be equity, bonds or convertible bonds.

Claims

Due to the fact of the difference between trade date and actual settlement date of trades, all pending trades over the exdate need to be transformed. This means that the ratio needs to be applied on all peding trades and the ISIN needs to be changed if the reverse split is going to be affected into another ISIN.

Click here to find out more about CLAIMS and Transformations

CUM / EX

Shares are traded with post split prices and numbers of shares.

Paydate

The date at which the amount of shares in the account of the investor is going to be reduced.

Paying agent

The party in the market working on behalf of the company that takes care of the technical process of the whole reverse split event (including notifications, fractions handeling (and issuing the new shares in case the shares are going to be reverse split into a different International Security Identification Number ISIN).