RE:RE:RE:RE:RE:Listing QuestionsThe GBR royalty shares didn't qualify as an investment in a Canadian TFSA so I had to have them swapped out for cash. Thankfully those shares were assigned almost no value so the amount of money I needed to do that was negligible.
AUG has obtained an appraisal stating the 2 spincos are worth $ 60,000,000 so that would be .30 a share for each based on 100,000,000 shares for each spinco.
If you own 100,000 AUG that would mean a value of $ 30,000 per spinco or $ 60,000 for the both.
Try swapping that stock out of a TFSA for cash !
This deal is a gong show already but unless AUG can now claim the spinco's are completely worthless I don't how investors are going to deal with this.
montydog wrote: Similar questions were asked about the SpinCo Royalty Company for Great Bear Resources. That was spun out a couple of months ago, with all investors on the GBR shareholder registry on a particular date qualifying for a certain number of the unlisted Spinco Royalty shares.
The was a brief glitch for some investors, but I think within a week or so everyone could see these appear in their trading accounts - albeit with a value of nil.
From an admin standpoint, I understand that these unlisted shares are treated the same as any listed shares are, where trading has been temporarily halted because of a significant news event. So you can see them there, but you can't do anything with them. And in our (AUG investors) case I think they will be assigned nil value until they open for trading.
Fyi, I'm a UK investor and my unlisted Spinco shares are sitting in my Self Invested Personal Pension account. No issues for me.
So I don't think we should be at all worried about this....