Freedom Insurance Group Ltd– DvP Settlement of Initial Public Offer ASX Code: FIGXX
What's this about:
Notice reference number:1352.16.11
Effective as of:14/11/16
This Notice is being issued to provide Participants with further information on the DvP Settlement service extended to support Initial Public Offer of Freedom Insurance Group Ltd
What do I need to do by when?
23 November 2016:
Deadline for all parties to transmit Dual Entry Settlement Instructions to effect CHESS DVP Settlement between the two parties
24 November 2016†:
25 November 2016:
FIGXX holdings to be transformed to FIG by Computershare Investor Services Limited
Baillieu Holst Limited (PID 03118)
(03) 9602 9313
(03) 9602 2350
 An existing market convention states that transactions should be matched before 4 pm on S-1.
Unmatched transactions after this time may be matched up until 11.30 am on S without prior agreement with the counterparty.
Any transactions remaining should only be matched in the last hour with agreement with the counterparty.
† The CHESS Subregister will close at 7.00pm.
The CHESS tariffs for processing individual transactions will not apply to Participants in the processing of FIGXX where the Transaction Basis “I” (IPO) is used in CHESS messages.
Participants should be aware that transactions do not receive the benefit of central counterparty backing.
Initial Public Offering (IPO) Process
Therefore, if there were a default the non-defaulting party would not be able to look to ASX Clear for completion of the transaction.
Need more information?
Nehali Dani, Post Trade Operations
1800 623 571