KOB.TO - East Lost Hills & GSJB joint venture Message Board

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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture

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To: Buckey who wrote (2664)	5/21/1999 9:27:00 AM
From: Check	Read Replies (1) of 15703

Just a quick recap on the rights as there still seems to be a fair bit of confusion. 1) If you own the stock now or buy it today, you get the rights. 2) Starting Tuesday (Monday being a holiday) the stock trades on ex-rights basis and the RIGHTS start trading on when-issued basis. 3) 8 rights give you the right to buy one share at $.90. The rights do not add 12.5% to the value of the shares, they will add 12.5% to the number of the shares outstanding. 4) the rights will be worth....the share price - $.90, divided by 8 = the intrinsic value + plus whatever premium people put on them. Example: at the $ 1.26, the rights are worth 4.5 cents (126-90):8 = 4.5 (plus X?? premium) Happy trading

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