RE:RE:RE:I see my BIPC fihnally showed upbttmfischer wrote: Oldfart74 you are wrong. My IPL shares were settled(with pro-rating) on August 6, 2021, and
not as you claim on August 20.
Nowhere in the Fifth Notice of Variation(certified officers with signing powers of the Offerors) is
made any reference to that the pro-rationing will cease after August 20, 2021.
Are you delegated by the Offerors to give the "explanation" shown above?
I merely rely on the News release of Brookfield of August 20, which states
"
BROOKFIELD, NEWS, Aug. 20, 2021 (GLOBE NEWSWIRE) -- Brookfield Infrastructure Partners L.P. (NYSE: BIP; TSX: BIP.UN), together with its institutional partners (collectively, “Brookfield Infrastructure”) announces that 253,933,715 common shares of IPL (TSX:IPL) (the “Tendered Shares”), representing 65.6% of the common shares not beneficially owned by Brookfield Infrastructure, have been tendered and not withdrawn to the offer as outlined in the Fifth Notice of Variation and Extension dated August 6, 2021 (the "Offer"). Brookfield Infrastructure has taken-up and will pay for the Tendered Shares within three business days. All conditions to the Offer have been satisfied or waived (including the modified statutory minimum condition) and we are filing a mandatory extension of the Offer to September 3rd to provide remaining IPL shareholders time to tender."
Until they met the minimum conditions as modified by the the Alberta Securities Commission, they could not accept any shares tendered. You tendered your shares on August 6; they were accepted on August 20 and the consideration was paid within three business days. Your broker deposited the consideration into your account the following day as per your previous post.
Here is the applicable rule from the Alberta Securities Act
"Restriction on take up – take-over bid
2.29.1 An offeror must not take up securities deposited under a take-over bid unless all of the following apply:
(a) a period of 105 days, or the number of days determined in accordance with section 2.28.2 or section 2.28.3, has elapsed from the date of the bid;
(b) all the terms and conditions of the bid have been complied with or waived;
(c) more than 50% of the outstanding securities of the class that are subject to the bid, excluding securities beneficially owned, or over which control or direction is exercised, by the offeror or by any person acting jointly or in concert with the offeror, have been deposited under the bid and not withdrawn."