Templeton Emerging Markets Income Fund T.TEI

Primary Symbol: TEI

Templeton Emerging Markets Income Fund (the Fund) is a closed-end management investment company. The Fund seeks high, current income, with a secondary goal of capital appreciation, by investing, under normal market conditions, at least 80% of its net assets in income-producing securities of sovereign or sovereign-related entities and private sector companies in emerging market countries. The Fund invests in bonds from emerging markets around the world to generate income for the Fund, seeking opportunities while monitoring changes in interest rates, currency exchange rates and credit risk. Its investment portfolio includes foreign government and agency securities, corporate bonds, convertible bonds, and short-term investments. Its markets are located in the Asia Pacific region, Eastern Europe, the Middle East, Central and South America and Africa. The Fund's investment manager is Franklin Advisers, Inc.

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Templeton Emerging Markets Income Fund > Bad math

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Comment by BobTheKnob2on Jun 23, 2020 1:19pm

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Post# 31181736

RE:RE:Bad math

Packum7 wrote: I think your old calculation is closer to the price

I am going to take a stab at the real price as of today that this deal is priced at.

Here is what it states in the news release:

Under the terms of the Arrangement Agreement to be completed pursuant to a plan of arrangement under the Business Corporations Act (Alberta) (the Arrangement), Toscana shareholders will receive 0.03031261 of an i3 Energy ordinary share (the i3 Energy Shares) for each Toscana common share.

i3 most recently traded at £0.061 or 6.1p.

Using the Bank of Canada currency converter and today's date, this converts to $0.10 approximately

Then multiplying the C$0.10 by 0.03031261 gives a valuation for the offer of C$0.00303

Quite frankly, it is an insulting offer.