Galway Resources Ltd V.GWY

Cash and shares by Friday

[largeinvest]

Do the shares trade on Friday.  I guess thats the big question we have.

[letsgetready]

Unless there are special trade settlement rules for GWY, I would think trading should stop today..if it does, settlement of todays trades will take place on Friday, Dec. 21. Then the sahreholders get the cash and spinco shares. this is not entirely clear to me, but if there are trades on Friday Dec. 21, then the normal settlement of those trades will be Friday dec 28 allowing for Xmas, which

[pin]

For Calvista the vote passed on the 7th, they went back to court on the 10th, closed on the 11th, and delisted at the close on the 12th. For GWY, the vote passed on the 17th, we go back to court on the 19th, expect close on the 20th, and will probably therefore be delisted on Friday the 21st.  Allowing 3 days for the trades to clear (Monday Dec 24th, Thursday Dec 27th, and Friday December

[pin]

...on a related note, I'd be interested to hear if and when Calvista holders recieved their cash.   Cheers, Pin. :)

[$HAWK]

PIN  If you have THE ARRANGEMENT BOOK the last 3 paragraphs of page 28 details the schedule of transferof securities and $ and spincos. ( should be complete by Dec,/21/12) $HAWK)

[letsgetready]

I would hope it happens Friday, but what about the trades that settle next week (after Xmas), how can these people get their cash and spinco shares when they won't even get their GWY shares till settlement date? My thinking is all trades have to have been settled first before the payout/distribution.

[letsgetready]

The cash will be paid by AUX to the "depositry" by Friday per the info circular. we won't see it then. it will take a number of days for all trades to settle..may get it Dec. 28 or 31st.

[SchiffKnowsBest]

I think you are right letsgetready.  Hinchcliffe is sitting on a boatload of shares.....You'd think he may want this to settle be paid early in the new year.  Doesn't appear to be the case though.  Pictet keeps buying here so we like that.  Notice how Stifel and CIBC have come back into the picture here.    Just my humble opinion, but the cappers are still at

[Trapper2212]

Am I correct in assuming that any taxes will be charged to 2012 regaurdless of when we received the cash or spin out co's.  Since the officaly settlement date is the 20th.

[mjh9413]

there are very few exceptions to the principle that INDIVIDUALS include amounts received in tax returns for the year in which they are received. CORPoRATIONS  may be entitled to deal with certain items differently based on accrual accounting.