Option Trading Company was founded in June 2000. It is active in arbitrage and derivative transactions and exclusively handles its own accounts. OTC is under the supervision of the Banking, Finance and Insurance Commission with a ‘derivatives specialist’ status.
The company also concluded an agreement with Euronext.Liffe Brussels in which it ensures liquidity in the future on the BEL20 index. Furthermore, OTC mainly operates on Euronext.Liffe Brussels as a ‘dealer’ in derivatives on various shares such as Belgacom, Fortis, Dexia, Delhaize, etc…
Contrary to speculation, OTC’s arbitrage activities do not involve an opinion on the market itself. The objective of most of the transactions is to take advantage of a measurable and temporary price difference in comparable financial products. OTC thus capitalizes on market inefficiencies and only relies on rational elements.
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Fixed Price Offer
Conditions of the fixed-price offer (Centralization by Euronext Brussels) Fixed-price: 5.5 euros A maximum of 33,218 shares made available to the market. Result of the fixed-price offer: (Ie notice for detail) Trading of the shares After the closing of the fixed-price offer, a maximum of 2,088,091 shares shall be listed on the Free Market of Euronext Brussels representing all of the existing shares of the company. (Ie notice for detail) Subscription of the new shares is not guaranteed. (Ie notice for detail) Request for listing Euronext Brussels also received an application for listing on the Free Market of Euronext Brussels of maximum 100,000 new ordinary shares, which could be issued following the exercise of 100,000 warrants granted to the staff which were issued on 08.05.2006 following the decision of the company OTC s.a.
The shares offered in this public offering results from a public subscription offer of a maximum of 166,091 new shares.
These shares will be distributed within the framework of a two-phased offer:
- The Priority Offer: 80% of the securities offered within the context of the offer. (Ie notice for detail)
Investors may participate in the Priority Offer for a greater number of shares, but their orders will be subjected to the same rules as the Non-Priority Offer for this surplus.
- The Non-Priority Offer: 20% of the securities offered within the context of the offer. (Ie notice for detail)
The final number of shares within the framework of the Priority Offer and the Non-Priority Offer may be adapted according to demand.
There are no guarantees with regard to the issue of new shares. (Ie notice for detail)
- Date of approval of the prospectus by the CBFA: 9 May 2006 - Opening of the Priority Offer and the Non-Priority Offer: 15 May 2006 - Closing of the Priority Offer: 15 May 2006 - Closing of the Non-Priority Offer: 17 May 2006 - Centralization date: 19 May 2006 - Allocation of the shares: 19 May 2006 - Publication of the results by Euronext Brussels notice: 19 May 2006 evening - Payment Date: 24 May 2006 - Settlement-delivery date: 24 May 2006 - First trading date on NSC: 24 May 2006