RE:$5.70 per share cash PLUS 2.9493 in Aurora Shares for 1CMEDThe $5.70 is the MINIMUM assuming 100% of the shares elect the cash option!
Do the math on 25%, 50% and 75% of shares electing the cash+share option!
Digital2018 wrote: Its a great deal at these prices...this is well under my average,
correction from my previous post
$5.70 per share cash PLUS 2.9493 in Aurora Shares for each 1 cmed
THE IMPROVED OFFER 2.1 The Improved Offer (a) The Offeror shall promptly publicly announce its intention to amend the Original Offer, subject to the terms and conditions set forth below, to increase the consideration payable for all of the issued and outstanding CanniMed Shares, and CanniMed Shares issuable upon exercise of Convertible Securities. Under the Improved Offer, CanniMed Shareholders will be entitled to receive Aurora Shares or cash, at their election, subject to proration of a maximum cash component of $140 million, excluding the CannMed Shares owned by the Offeror and its affiliates. Assuming proration of the cash among all Cannimed shareholders (fully diluted), and excluding the CannMed Shares owned by the Offeror and its affiliates, the result would be $5.70 in cash and 2.9493 in Aurora Shares. Assuming an all share election a CanniMed Shareholder will receive 3.4 Aurora Shares. Provided that there has been no termination of this Agreement, the Offeror shall not terminate or withdraw the Improved Offer prior to the Expiry Time without the prior written consent of CanniMed. (b) The Offeror shall prepare the Notice of Variation in both the English and French languages. The Offeror shall mail the Notice of Variation in accordance with applicable Securities Laws to each registered holder of CanniMed Shares as soon as reasonably practicable and, in any event, not later than 11:59 p.m. (Toronto time) on the day that is ten days after date of execution of this Agreement by both the Offeror and CanniMed (such time on such date being the “Latest Mailing Time”); provided, however, that if the mailing of the Notice of Variation is delayed by reason of CanniMed not having provided to the Offeror the Directors’ Circular (defined below) as well as any information pertaining to CanniMed that is necessary for the completion of the Notice of Variation by the Offeror, then the Latest Mailing Time shall be extended to 11:59 p.m. on the second business day following the date on which CanniMed supplies such necessary documents, information or other assistance. (c) Prior to the printing of the Notice of Variation and the filing of the amendment to the Original Offer to purchase, the Offeror shall provide CanniMed with a reasonable opportunity to review and comment on such documents, recognizing that whether or not such comments are appropriate will be determined by the Offeror, acting reasonably. (d) The Offeror agrees to take up all of CanniMed Shares tendered under the Improved Offer no later than 9:00 a.m. on the first business day following the first scheduled Expiry Time if and when all the conditions to the Improved Offer set out in Schedule A, which conditions shall be included in the Notice of Variation and shall replace the conditions to the Original Offer, shall have been satisfied or waived and pay for such CanniMed Shares promptly and in any event not later than three (3) business days following such scheduled Expiry Time. (e) The Offeror may, in its sole discretion, waive any term or condition of the Improved Offer (other than the Statutory Minimum Condition, but including any further extension of the Expiry Time) or increase the consideration offered; provided that the Offeror shall not, without the prior consent of CanniMed, otherwise amend the Improved Offer, impose additional conditions to the Improved Offer, decrease the consideration per CanniMed Share, decrease the cash amount of the Improved Offer, decrease the number of CanniMed