We want to notify you about Continental AG’s spin-off scheduled for 15/09/2021. It will result in the establishment of Vitesco Technologies Group AG as a new legal entity. This corporate event will impact both the physical instrument (Ticker: CONT.D.EX) and its CFD equivalent (Ticker: CONT.D) available for trading on JFD’s platforms. The distribution ratio for this corporate action is set to 0.2:1, meaning that for every five shares the investors held with Continental, they will receive one share of the new company.
Since JFD will not offer the new entity’s shares, we will not allocate the applicable number of new stocks to all clients who will be holding open positions in Continental AG until the market`s close on 14/09/2021. Instead, once we receive the new allocated shares, we will sell them at the first available price and transfer their monetary equivalent to the live trading accounts of the respective clients according to the size of their open positions.
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