Post by
hansdampf04 on Jul 25, 2017 6:55pm
Corporate Action
Just got an email regarding Corporate Action and PGD, expiring August 15th.
Explain to this stock noob what's happening please.
Thanks
Comment by
Silverwhere on Jul 25, 2017 6:59pm
How about a coffee & a muffin first? Or maybe a foot massage?
Comment by
hansdampf04 on Jul 25, 2017 7:01pm
Im a cheap date, and the only muffings around here are from Tims, and who really wants those these days?
Comment by
ekim on Jul 25, 2017 7:02pm
You will get a big envelope in the mail from your brokerage. One per account you hold PGD in. Everything is in detail within that document. If you can't wait...you can go to SEDAR and look at the documents now. LONG...PGD EKIM
Comment by
Silverwhere on Jul 25, 2017 7:10pm
or what ekim just said i.e. the scoop lol
Comment by
ekim on Jul 25, 2017 7:33pm
no news yet. Probably before the opening tomorrow...and if not...and there is a gap up on volume...might get a call from IIROC. LONG...PGD EKIM
Comment by
hansdampf04 on Jul 25, 2017 7:25pm
Thanks. 10/10 helpful. Learned something new today. Essentially, PGD rasing funds by selling discounted shares, yes?
Comment by
ekim on Jul 25, 2017 7:32pm
Yeah. This is the 5th rights offering over the last 10 years for PGD. You can exercise the rights to maintain your % position in the company...or you can sell the rights on the open market if you don't have coin to exercise them..or don't want to. LONG...PGD EKIM
Comment by
mill44 on Jul 25, 2017 11:08pm
I am guessing if you got a warning about a corporate action, you owned shares in PGD when it went ex-rights. Now the broker wants you to let them know what do you want to do with the rights. You have 3 choices. Do nothing (they will expire worthless), exercise part or all of your rights, and oversubscribe if you exercised all of your rights.