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Gold/Mining/Energy : Winspear Resources

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To: Gord Bolton who wrote (16220)	3/20/1999 6:04:00 PM
From: Lilian Debray	Read Replies (3) of 26850

Thanks Gordon, this is what I don't understand. Let's suppose that today I own N shares of Winspear. After the split, the value of the New Winspear is a, the value of NewCo is b. The current value of Winspear= a+b. I own N(a+b). Applying the principle of distributivity, after the split, I would expect to own Na + Nb. The value of "b" may be 1/8 of "a" but why would the number of shares change? In my opinion, only N(a+b)=Na + Nb would clearly be fair. Since the news release is not clear on the value of the variables, I would not assume that N(a+b)= Na+1/8Nb winspear.com

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