(CFD) SIA MCB Rights Issue  Blog, MSF, POEMS  May 20, 2021

Please be informed that SIA is undergoing a renounceable mandatory convertible bonds (MCB) rights issue of 209 for every 100 existing shares. The ex-date is 27 May 2021. We will be catering for the rights for both LONG and SHORT positions. For LONG clients who are intending to hold their positions past the ex-date and be entitled to the rights CFD, we would like to highlight the increased risk of a margin call between the ex-date and the rights trading date. Clients will still be subjected to standard margin call procedures. SIA MCB rights CFD will be reflected in your CFD account on 3 June 2021. You can call in to 6336 3338 to liquidate your rights CFD during the rights trading period from 2 June 2021 to 10 June 2021.  There will not be any conversion of the rights and as such you MUST sell your rights CFD during the rights trading period. Otherwise, the rights CFD will lapse and be closed off at a traded price of zero. Liquidation of your rights CFD will be done on a phone-only market order basis. Commission is chargeable for the liquidation of the rights CFD at the commission rates similar to SIA CFD. Finance charge for the rights will not be applicable. For SHORT clients who have held their positions past the ex-date, short positions on SIA MCB rights CFD will not be reflected in your CFD account. Phillip CFD will buy back the SIA MCB rights to cover your SHORT rights CFD position at the opening on the first day of the trading period. The cost incurred from the buyback will be charged to your account on the same day. Clients who do not want to be subjected to the above will need to liquidate your positions before ex-date. We will post further updates if there are any changes on the rights issue above. Updated 2nd June 2021, 10:52am