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Gold/Mining/Energy : Winspear Resources
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To: Digger who wrote (15957)3/17/1999 1:24:00 AM
From: marcos  Read Replies (1) of 26850
 
Sorry, I was using 8/1 as another way to say .125, should have said 1-for-8.
For every wsp share held on record date you'll get one share of 'New Winspear' [which will still just be called Winspear, likely no change of ticker i would expect] and one-eighth [.125] of a share of 'Newco', which will hold all non-Camsell Block assets. So any shares held beyond even multiples of 4000 will result in an odd lot of Newco, since i assume it would trade under 1.00 where board lots are 500. This imho often makes spin-offs trade oddly in the months following, as people dump odd lots, stink bidding can work really well. Maybe not in this case, as The Cottontail will likely be supporting RT's new paper.

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