Conifex Timber Inc T.CFF

Cashing in shares

[PapaJay10000000]

Out of curiousity. Did anyone else on this board move to take CFF up on their offer to cash in shares?

[TradeTracer]

Looks like 25 million shares were offered to the tender? Must just about be every shareholder on file taking CFF up on their offer... Trouble with those kind of numbers is it implies someone could come in and buy the company at this more than reasonable valuation (62.5% uptake is close to the 66% needed for shareholder approval) Thoughts?

[PapaJay10000000]

Not necessairly. I offered 50% of my shares for tender at 2.25 but I also recognize that by them terminating said shares the remaining shares that I continue to hold would increase in value proportionatly.  I also planned on re-purchasing the shares that I sold at market (2.00 right now) after taking the 25 cent gain. (unfortunately my shares were not among the selected.

[Stonksonlyup90]

How do you know if your shares were making the selected? My understanding is that the shares will be bought back on a pro-rata basis, ie - of your 50% of shares rendered, you'll get 16% bought back.

[TradeTracer]

I think you would be correct We'll definitely know by the end of December if it's the right understanding

[TradeTracer]

I hear that, but it definitely took me for a surprise to see that number of shares put up As for your shares not being selected you might be wrong. I read on the SEC they have upto 10 days from the 20th to give the cash for shares tendered. The way I read it to is because it was (way) oversubscribed they are taking 16% of all stockholders tendered holdings Just for example; one tendered 10,000