A batch of warrants including Baosteel warrants will enter the exercise period in succession. Shanghai Stock Exchange and China Securities Depository and Clearing Co., Ltd. recently sent a notice to all member units and clearing participants on matters related to the exercise of warrants to ensure the smooth implementation of the exercise business.
The notice said that the business handling and specific requirements for the exercise of the call warrants shall be implemented with reference to the Notice on the Exercise of Put Warrants and Other Related Matters jointly issued by Shanghai Stock Exchange and China Securities Depository and Clearing Corporation Limited on March 13, 2006. According to the Detailed Rules of China Securities Depository and Clearing Corporation Limited for the Implementation of the Registration and Clearing Business of Listed Warrants in Shanghai Stock Exchange, the exercise of warrants is subject to T+0 settlement, so each clearing participant shall transfer the full amount of payable funds to its non guaranteed capital settlement account opened in Shanghai Branch of China Securities Depository and Clearing Corporation Limited before 16:00 on the day of exercise declaration. If the funds are insufficient, the exercise fails.
Reporter Pan Qing
