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Gold/Mining/Energy : Chesapeake Gold (CKG.V)
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To: TheSlowLane who wrote (1381)1/14/2008 11:32:17 AM
From: the navigator  Read Replies (2) of 7833
 
Each Class A Share shall be convertible, for no additional consideration and for a period of five (5)years, into ten (10) Chesapeake common shares (such that American Gold shareholders will receive, in respect of each American Gold share held, the right to convert into 0.29 Chesapeake common shares)in the event that the average London PM fix closing trading price of gold is equal to or greater than US$850 per ounce on such market during any 90 consecutive day period during the five year term. The five year term will be extended by one year if the trading price for gold has been at or above US$850 per ounce on any day during the last six months of the five year term.

Hello folks. I just got on this bus at the last stop, so I'm playing ketchup with this CKG info. I read the last 150 posts or so and just need to clarify my understanding.

I have managed to accumulate 1400 shares of CKG over the past year or so. When the POG is at or above $850 for 90 consecutive days, my 1400 shares will become 14000? I'm going to assume that the price will be diluted proportionally.

In addition, any shares of American Gold (American Goldfields AGFL?) that I hold will be good for 0.29 Chesapeake common shares?

Is that all correct? Or have I missed a stop?

TIA

up the stairs
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