RE:RE:QuestionQuintessential1 wrote: There is no compensation for partial shares. It is stated in the deal particulars and it was discussed in length on the KL board.
At least the share price is up.
GLTY
cyanide5 wrote: I had KL in 4 different accounts and looks like all my shares are converted to AEM. However, i havent received Cash for the partial shares???
Normally in mergers i have seen acquiring company issuing cash for partial units which are left over after conversion. In this case partial shares amount close to 200 dollars which is not a rounding error for me so just wondering...
If anyone has any details, would appreciate a response.
I kind of question a couple aspects of this in that I wonder if you are talking about partial shares pre-merger, as in because Kirkland traded on the Nasdaq and the US allows for partial share trading (I'm aware of platform abilities but I don't know about exchange abilities, I just know it's a thing) where as TSX/V ect do not.
Are your partial shares of Kirkland pre-consolidation? Because I think that is what Quintessential is talking about as they receive no compensation/acknowledgement for by the companies involved as per the terms of the deal,
IF you get any compensation it would be from your holding platform as usually for a partial share they would hold the other fraction of your share in thier system (likely in someone else's portfolios) in conjunction with your personal ownership.
As far as partial share in relation to the maths post merger, say the math works out that you are entitled to .259338 of a share and because they will not make whole a share to you (or fractional) I believe you will still get a payout but it could take time for that to make it too you. I have recieved a payout for a merger (and a reverse split) many business days (5-10) after the fact, but I believe that hold up was based upon the information and payout getting to and processed by my institution. (I have a hard time believing you wouldn't get this, but I could be wrong on that)