Lundin Oil (LOILY, LOILB Sweden) Message Board

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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)

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To: Tomas who wrote (426)	12/23/1997 12:37:00 PM
From: Timelord	Read Replies (4) of 2742

Tomas: The tender offer has been extended according to Schwab, probably due to the late notification and confusion in the US. Waterhouse did not notify me until yesterday and accepted my vote this morning. I think the tender process is smoother than you imply. If the tender offer were to be approved today, and you bought shares in IRP next week, you could continue to trade them as IRP, up until the day that Lundin Oil designates it is scheduled to trade on the exchanges. Your shares will then be automatically exchaged for Lundin Oil shares and you could sell them as such the new trading day. No loss in liquidity. You are implying somewhat of a chaotic situation for those not able to vote their shares, and I don't think that is how it works. What you describe does happen in a straight cash buyout, whereby if you opt not to participate, and the tender offer goes through anyway, you receive a forced buyout for your shares, but the transfer of funds takes a number of weeks after the stock finishes trading. Off to visit relatives tomorrow, Happy Holidays to all! Alex

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