RE:Anyone know what date the stock split will take place ?Last day to buy any shares pre-split will be on Friday May 13th before the market close.
First post-split trading day will be Monday May 16th.
https://ca.finance.yahoo.com/news/cibc-announces-election-directors-shareholders-200100499.html
"CIBC shareholders of record as of the close of business on May 6, 2022 (the "Record Date") will receive on May 13, 2022 (the "Payment Date") one additional common share for each common share held. As at the close of markets on April 6, 2022, CIBC had 451,287,937 common shares issued and outstanding. Adjusting for the Share Split, as of April 6, 2022, there would have been 902,575,874 common shares issued and outstanding. The Share Split will not change the rights of holders of CIBC common shares and will not change a shareholder's proportionate ownership in CIBC. CIBC's dividend declared February 25, 2022 for the quarter ending April 30, 2022 will not be affected by the Share Split but all future dividends declared by CIBC will reflect the Share Split. The floor price for CIBC's outstanding Non-Viability Contingent Capital (NVCC) instruments, including NVCC preferred shares, NVCC subordinated debentures and NVCC limited recourse capital notes (the "NVCC Instruments") will be adjusted from $5.00 to $2.50 to account for the Share Split in accordance with the terms and conditions of the NVCC Instruments.
The Toronto Stock Exchange and the New York Stock Exchange have determined that CIBC common shares will trade on a due bill basis from Thursday, May 5, 2022 (being one trading day prior to the Record Date) to the Payment Date (i.e., Friday, May 13, 2022), inclusive (the "due bill period"). A due bill is an entitlement attached to listed securities undergoing a material corporate action, which includes the Share Split. In this instance, the entitlement is an additional CIBC common share issuable as a result of the Share Split. Any trades that are executed during the due bill period will be flagged to ensure purchasers receive the entitlement. Ex-distribution trading in CIBC common shares on a split-adjusted basis will commence on Monday, May 16, 2022, as of which date purchases of CIBC common shares will no longer have the attaching entitlement. The due bill redemption date will be Tuesday, May 17, 2022.
Shareholders do not need to take any action. CIBC will use the direct registration system ("DRS") to electronically register the additional CIBC common shares issued pursuant to the Share Split, rather than issuing physical share certificates. On the Payment Date, TSX Trust Company ("TSX Trust"), CIBC's transfer agent, will send out DRS advice statements to registered shareholders indicating the number of additional CIBC common shares that they are receiving as a result of the Share Split. This will allow CIBC shareholders to hold their additional CIBC common shares in book-entry form without having a physical share certificate issued. Currently outstanding physical share certificates representing CIBC common shares will continue to be effective. They should be retained by registered shareholders and should not be forwarded to CIBC or TSX Trust. In addition, TSX Trust will electronically issue the appropriate number of CIBC common shares to CDS Clearing and Depositary Services Inc. and The Depository Trust Company for distribution to non-registered (beneficial) shareholders of CIBC. Non-registered (beneficial) shareholders of CIBC who hold their common shares in an account with their investment dealer or other intermediary will have their accounts automatically updated to reflect the Share Split in accordance with the applicable brokerage account providers' usual procedures."
RayDonovan78 wrote: Anyone know what date the stock split will take place ?