Post by
Sbeavenx on Mar 09, 2018 7:10pm
Mar 9 - Notice of Change now on Sedar
The Cannimed shares have been "taken up" as of end of day March 8, 2018. Payment to made within 3 business days at most from date of take-up. I undestand from Laurel Hill that there is no proration of cash, and those that selected "all" cash will recieve $43 in cash (but they don't always seem to know what is going on).
Excerpt from Notice of Change:
3. TAKE-UP AND PAYMENT FOR DEPOSITED CANNIMED SHARES
As of 11:59 p.m. (Pacific time) on March 8, 2018, a total of 17,847,341 CanniMed Shares, representing 70.66% of the outstanding CanniMed Shares, had been deposited to the Offer and not withdrawn. With all of the conditions to the Offer having been met, Aurora will immediately take up the deposited CanniMed Shares and pay for the CanniMed Shares taken up as soon as possible and in any event not later than 3 business days after the CanniMed Shares are taken up. Pursuant to elections made by the CanniMed Shareholders, Aurora will issue approximately 50.6 million Aurora Shares and pay approximately $98 million in cash. Aurora will take up and pay for the CanniMed Shares in the manner set out in Section 8 of the Original Notice of Variation, “Take-up and Payment for Deposited CanniMed Shares” and as required by applicable Canadian Securities Laws.
Comment by
silkroad007 on Mar 09, 2018 7:16pm
Like I said MA, thanks for the $43 and within 3 days I shall have my cash to hopefully buy ACB under 12.65. Complicating things forced people to choose shares and left the cash on the table. Gracias.
Comment by
Sbeavenx on Mar 09, 2018 7:31pm
I'm betting the major CMED shareholders were more interested in maitaining a long position in the amalgamated company rather than cashing out. This is also based on Laurel Hill providing accurate information, and I really question the info I get from them most of the time. I guess ee will find out next week for sure.
Comment by
longonMJ on Mar 12, 2018 2:53pm
Sb: What the heck.....now you tell me after presenting such a good argument for your case. Grrrrr!!! So good in fact, that I spent the entire weekend spending the whole $43 cash for every single one of my CMED shares that you had told me that I would be good for. Now, what am I going to do with all this stuff and not enough money to pay for them all. LOL
Comment by
Sbeavenx on Mar 13, 2018 9:26am
MA. I knew you were joking :)
Comment by
Skinner70 on Mar 13, 2018 2:01pm
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Comment by
ChazBrown on Mar 14, 2018 12:01pm
You can definitely untender tendered shares. Your brokerage person will tell you that it is not guaranteed and works on best practice. If you tendered prior to extension on March 9, I think your moment has been lost as all those shares now belong to ACB, at least on priniple... Basically, you can call whoever you tendered with/through and ask them to be sure... HTH GL> CB
Comment by
longonMJ on Mar 14, 2018 12:29pm
Well, if this is true and Aurora now "owns' my CMED shares, should I not be seeing Aurora shares and some cash (if applicable) in my account with 3 business days of March 9th, instead of some untradeable shares that's owned by somebody else? Hmmm........
Comment by
StrongLong on Mar 14, 2018 12:31pm
This being the 3rd business day it doesn't seem likr it lol
Comment by
420rush on Mar 14, 2018 1:18pm
if i tendered all cash before mar 9 does that mean i need to wait three buisness days from mar 9 or do i need to wait till the extended date of mar 25?
Comment by
longonMJ on Mar 14, 2018 1:29pm
From what most people are saying on the boards here, I believe they've got you by the short hairs and are squeezing hard as heck and won't be letting go until towards the end of this month. Ouch....ouch LOL
Comment by
MartialArts on Mar 14, 2018 1:36pm
You will have to wait until three days after the new extended date of March 25th. If the stock runs above $43 before then, it will be interesting.
Comment by
420rush on Mar 14, 2018 1:45pm
thanks that helps probably been asked alot but the board has been a mess lately not really keeping up
Comment by
longonMJ on Mar 14, 2018 3:45pm
One sure way to find out is to contact the Advisory Group for this takeover and the correct answer will be the exact opposite of whatever they say. LOL Especially since Laurel and her gang has absolutely no clue and seemingly been wrong on most everything asked of them so far. Tsk, tsk.....
Comment by
MartialArts on Mar 14, 2018 6:40pm
Laurel is an "errorvisory" group. Long, talk to your broker, seems different ones have different procedures with the "back office".