GREY:CNKEF - Post by User
Comment by
BobTheKnob2on Nov 19, 2016 5:53am
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Post# 25484272
RE:record date
RE:record dateBGraham wrote: is the shareholder record date yet known regarding eligibility to receive the Craft shares?
It would appear as if you are talking two different things. The record date is for voting, whereas those holding shares on the day of the transaction will receive the Craft shares )regardless of whether they voted or were shareholders on the record date). See the press release comments below:
Pursuant to the Arrangement, each issued and outstanding common share of Chinook ("Chinook Share") at the time the Arrangement is completed, which is currently anticipated to occur on or about December 13, 2016, will be exchanged for one (1) new common share in the capital of Chinook (a "New Chinook Share") having the terms set forth in the Plan of Arrangement (as defined below) and a pro rata entitlement to an aggregate of 152,251,953 common shares ("Craft Shares") in the capital of 1947577 Alberta Ltd. (to be renamed Craft Oil Ltd.) ("Craft"). Pursuant to the letter of transmittal mailed to Chinook shareholders as part of the Meeting Materials, the exchange of the Chinook Shares for New Chinook Shares and Craft Shares by a registered holder of Chinook Shares will occur upon the registered holder tendering their share certificate(s) representing Chinook Shares, together with the duly completed letter of transmittal, to Alliance Trust Company, Chinook's depositary under the Arrangement. Shareholders whose Chinook Shares are registered in the name of a broker, dealer, bank, trust company or other nominee must contact their nominee to deposit their Chinook Shares. At the time the Arrangement is completed, all Chinook Shares will be deemed to be cancelled and will represent only an entitlement to receive New Chinook Shares and an applicable pro-rata entitlement to the 152,251,953 Craft Shares. The New Chinook Shares outstanding subsequent to the time the Arrangement is completed, whether acquired pursuant to the Arrangement or through the facilities of a stock exchange, will not represent any entitlement to Craft Shares.