Form 25 - Put option contract [F - Rescinded]
| Published Date: | 1997-06-27 |
|---|---|
| Effective Date: | 1997-06-25 |
| Rescinded Date: | 2001-03-28 |
This is the form of put option contract required under Section 75 (b) (iii) of the Securities Act.
FORM 25
SECURITIES ACT
PUT OPTION CONTRACT
____________________, 19 ___.
FOR VALUE RECEIVED, We agree to BUY from the Bearer ____________________
shares of the ____________________ stock of the ____________________ at
____________________ DOLLARS ($ ) per share AT ANY TIME WITHIN
____________________ days from date of contract.
THIS OPTION CONTRACT MAY BE EXERCISED BY PRESENTING IT TO THE UNDERSIGNED BEFORE THE EXACT EXPIRY DATE. IT WILL NOT BE ACCEPTED AFTER IT HAS EXPIRED AND CAN NOT BE EXERCISED BY TELEPHONE.
TERMS OF THIS CONTRACT PROVIDE:
(1) On the day that the stock covered by this option sells ex-dividend, the contract price shall be reduced by the value of such cash dividend.
(2) If the stock covered by this option is entitled to rights and/or warrants, the specified contract price shall be reduced by the value of such rights and/or warrants as fixed by the opening sale thereof on the day the stock sells ex-rights and/or ex-warrants. There will be no physical delivery of rights and/or warrants upon the exercise of this option.
(3) In the event of a stock split or other similar action the share value of this option will become the equivalent in new securities when duly listed for trading and the total contract price shall not change.
(4) Stock dividends shall be attached to the stock carried herewith when and if this option is exercised and the total contract price shall not be changed.
(5) Upon presentation of this option to the undersigned within the time specified, the undersigned agrees to accept notice of the Bearer's exercise by acknowledging presentation of this option which shall constitute a contract and shall be controlling with respect to delivery of the stock and settlement in accordance with (recognized) Stock Exchange procedures.
THIS CONTRACT WILL EXPIRE AT EXACTLY 3:15 P.M. ON
___________________________________, 19___.
If the (recognized) Stock Exchange is not in session at the expiry time due to a legal holiday, emergency closing or for any other reason, then this contract will expire at 3:15 p.m. at the next (recognized) Stock Exchange session following.
(Name of Member Firm or Member Corporation)
CONTRACT PRICE ADJUSTMENTS
Original Contract Price ____________________ $____________________
Date | Amount | |
| ||
Ex-Dividend | _____________________________ | ___________________________ |
Ex-Dividend | _____________________________ | ___________________________ |
| NET CONTRACT PRICE | ___________________ |
| ___________________ |
This option contract has been presented for exercise on ________________________, 19 ___,
by ___________________________ in accordance with provisions as set out in this contract.
___________________________________________
(Name of Member Firm or Member Corporation)