09-16-2016, 11:02 PM
The Options Clearing Corp. is anticipating the deal is done.
Contract Adjustment
DATE: Effective the opening of the business day after the merger is consummated.
Contract adjustment is anticipated to occur in late September 2016.
OPTION SYMBOLS: IOC changes to XOM1
STRIKE DIVISOR: 1
CONTRACTS
MULTIPLIER: 1
NEW MULTIPLIER: 100 (e.g., a premium of 1.50 yields $150; a strike of 49 yields $4,900.00)
NEW DELIVERABLE
PER CONTRACT: 1) An amount of Exxon Mobil Corporation (XOM) Common Shares worth $45.00, calculated as described in the Info Circular dated August 16, 2016 (“Info Circular”), x 100
2) Cash in lieu of fractional XOM shares, if any
Note: IOC options will NOT be adjusted to include delivery of the non-transferrable Contingent Resource Payment (CRP).
CUSIP: XOM: 30231G102
BACKGROUND
On September 21, 2016, Shareholders of InterOil Corporation (IOC) will vote concerning the proposed merger with Exxon Mobil Corporation (XOM). If the merger is approved and consummated, each existing IOC Common Share will be converted into the right to receive an amount of XOM shares worth $45.00, calculated as described in the Info Circular, plus a non-transferrable Contingent Resource Payment (CRP) per IOC share held. On the effective date of the merger, the CRP will be paid into escrow and released upon satisfaction of certain conditions, as described in the Info Circular. The CRP will not be transferrable and will not trade on any exchange. Cash will be paid in lieu of fractional XOM shares, if any.
Note: The Contingent Resource Payments (CRP) represent a non-transferable right to receive additional payments, if any, if certain conditions are met. The IOC/IOC1D deliverables will NOT be adjusted to include the non-transferrable CRPs.
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