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Strategies & Market Trends : Canadian Options

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To: Dave.S who wrote (563)7/3/1997 10:11:00 PM
From: RCL   of 1599
 
Dave, Here's one you for you

.- I own some Minorca (MAR.WT) 1/2 share purchase warrants that expire Jan 98 with a strike price = $ 4.30. The company has just announced a share consolidation that will result in 2old shares traded for 1new. When I wrote the investors relations director at the company she wrote back that my current warrants could be exersised to aquire the new series stock at strike = $8.30.

This situation seems to leave me in the cold. Can they do this ? Have you ever heard of this situation ? There is additional info if you look in my profile and read the Minorca posts. Please let me know what you think ! | :)
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