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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks
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To: Seeker of Truth who wrote (7773)10/4/2004 5:22:00 PM
From: LTBH   of 11633
 
Exchangeable Shares; a Current Example

Starpoint and E3 are combining and then converting to a trust. Here is a short lift from their PR with the exchangeable share option discussed:

Plan of Arrangement

Pursuant to the Arrangement, shareholders of both StarPoint and E3 will receive shares of NewCo, and, at their election, either units of the Trust, which will pay monthly cash distributions, or exchangeable shares which may be exchanged into units of the Trust.

Specifically, shareholders of the respective companies will receive:

For each StarPoint common share owned:
a) 0.2500 units of the Trust and 0.1111 shares of NewCo, or
b) 0.2500 exchangeable shares and 0.1111 shares of NewCo.

For each E3 common share owned:
a) 0.1100 units of the Trust and 0.0488 shares of NewCo, or
b) 0.1100 exchangeable shares and 0.0488 shares of NewCo.

Luck
Networm
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