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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: jim_p who wrote (84658)1/18/2001 4:08:58 PM
From: Tommaso  Read Replies (1) of 95453
 
I suppose I could figure out exactly what this means. It's the description of the treatment of the SMOP warrants in the terms of the merger:

(g) At the Effective Time, each warrant to purchase shares of Company
Common Stock that is outstanding immediately prior to the Effective Time (a
"Warrant") will remain outstanding and will become warrants to acquire Per Share
Merger Consideration on terms set forth in the Warrant. After the Effective
Time, each Warrant will represent the right to receive, upon exercise of such
Warrant, an amount of cash (without interest) equal to the product of (i) the
number of shares of Company Common Stock subject to such Warrant as of the
Effective Time, and (ii) (A) the Per Share Merger Consideration, minus (B) the
exercise price per share applicable under such Warrant. All references to
Company in Company's warrant agreements with respect to Warrants will be deemed
to refer to Parent and Merger Sub, and Parent and Merger Sub will assume the
obligations of the Company under such warrant agreements. The other terms of
each such Warrant and the applicable Company warrant agreement under which it
was issued will continue to apply.
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