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External sources (not reviewed)

The Manager may deal in Units and subscriptions and redemptions may accordingly at the Manager's discretion be either for the direct account of the Funds or sales or purchases by the Manager.

[...] value of the putoption ($ 419 million) [...][...]

2.5 We will not knowingly execute or agree to execute a transaction which would result in you having a short sellingunless otherwise permitted by law.

c. “dealing” includes, subject to paragraph (f) below, any acquisition, disposal or transfer of, or offer to acquire, dispose of or transfer, or creation of pledge, charge or any other security interest in, any securities of the Company or any entity whose assets solely or substantially comprise securities of the Company, and the grant, acceptance, acquisition, disposal, transfer, exercise or discharge of any option (whether call, put or both) or other right or obligation, present or future, conditional or unconditional, to acquire, dispose of or transfer securities, or any interest in securities, of the Company, in each case whether or not for consideration and any agreements to do any of the foregoing, and “deal” shall be construed accordingly

(e) in respectof a put warrant, a [...][...]

Cost of completed properties held for sale comprises all costs of purchase, costs of conversion and costs incurred in bringing the inventories to their present location and condition.

These contracts give option holders the right to buy (with a “call”) or sell (with a “put”) the underlying interest within a specified time and price.

[...] [...] regard to their own circumstances and investment objectives, consider selling their Shares in the open market, instead of accepting the Share Offer, if the net proceeds from the saleof such Shares would be higher than the net consideration [...]

[...] [...] (‘‘Philips Default PutOption’’) against payment by MMD of the Default Option Price (as defined below); and (b) MMD is the defaulting shareholder, to sell and transfer [...][...]

9. by writing call options in respect of securities comprised in the funds if the exercise price or the aggregate of exercise prices would be more than 25% of the Funds' Net Asset Value.

In other words, any disposal or sale of the Leveraged Product or Structured Product will not be counted as a separate transaction.

This lower volatility is very valuable both in helping investors stick with a disciplined strategy and in reducing the risk of disappointment if investors need to cash in their investments in a down year.

[...] their decisions to sell or hold their [...][...]

[...] [...] PhilipsExit Put Option as at the date of completion of the Acquisition, and the fair value of the contingent consideration at the date Philips gives notice of its election to receive the contingent consideration and the redemption amount of the PhilipsExit Put Option at [...][...]

[...] [...] offer for Winsor), the put options can only be exercised by SCB Singapore on the scheduled expiry date, which will be on 29 October 2012, unless Wing Tai gives SCB Singapore a written notice requiring SCB Singapore to exerciseits put options in accordance with [...]

[...] [...] exercise of call and put options) in securities, [...][...]

[...] [...] of a written put option (including [...][...]

Tanrich is also entitled to exercise its own judgement in determining the time of the aforesaid sale or disposal or liquidation and to sell or dispose of any of such properties at current market price to Tanrich without any responsibility for any loss occasioned or being accountable for any profit made by Tanrich.

Shortselling of shares is safer [...][...]

Management determines the net realisable value of completed properties for sale by using (i) prevailing market data such as most recent sale transactions and market survey reports available from independent property valuers; and (ii) internal estimates of costs based on quotes by suppliers.

[...] the outstanding putoptionsare exercised, or deemed to be exercised, on or before the scheduled expiry date, SCB Singapore shall deliver to Wing Tai or its nominee the shares in Winsor representedby theput optionsexercised by it and Wing Tai shall pay to SCB Singapore the amount equal to the product of the number of shares subject to the put options exercised (namely 13,900,000) and the exercise price (which is HK$12.59 per share in Winsor as at the date of this announcement, such that SCB Singapore would have received HK$175,001,000 for the shares if the put options were [...][...]

(g) HKAS 32 (Amendments) provides a limited scope exception for puttable financial instruments and instruments that impose specified obligations arising on liquidation to be classified as equity if they fulfil a number of specified features.

[...] call or a putwarrant by buying such warrant and close out such long position previously established by selling such warrant – that is, you cannot short sellsuch warrant.

If a customer sells any securities in the Monthly Investment Plan account (regardless of whether the plan is terminated or not), the Bank will impose normal securities services charges, including the brokerage fee at normal rate (i.e. 0.25% of transaction amount, minimum HKD100 per transaction) and other relevant securities services charges on the selling transactions.

[...] [...] value losson the put option in relation [...][...]