In the event of a dividend declared in respect of any underlying securities:—
(1) An Exercise Notice lodged with the OCC prior to the "ex dividend date" of dealings in the underlying securities in SGX-ST shall entitle the buyer to the dividend (notwithstanding that the seller is advised of the allocation on or after the "ex dividend date" of dealings in the underlying securities in SGX-ST).
(2) An Exercise Notice lodged with the OCC on or after the "ex dividend date" of dealings in the underlying securities in SGX-ST shall not entitle the buyer to the dividend.