Agnico Eagle Mines Ltd T.AEM

Question

[cyanide5]

I had KL in 4 different accounts and looks like all my shares are converted to AEM. However, i havent received Cash for the partial shares??? 

Normally in mergers i have seen acquiring company issuing cash for partial units which are left over after conversion. In this case partial shares amount close to 200 dollars which is not a rounding error for me so just wondering... 

If anyone has any details, would appreciate a response.

[Quintessential1]

There is no compensation for partial shares.  It is stated in the deal particulars and it was discussed in length on the KL board. At least the share price is up. GLTY

[JayBanks]

I kind of question a couple aspects of this in that I wonder if you are talking about partial shares pre-merger, as in because Kirkland traded on the Nasdaq and the US allows for partial share trading (I'm aware of platform abilities but I don't know about exchange abilities, I just know it's a thing) where as TSX/V ect do not. Are your partial shares of Kirkland pre-consolidation

[chuck8]

I was willing to readily accept some rounding loss in shares but one of my accounts had 2770 KL which converted to AEM @0.7935 = 2197.995....quess how many rounded shares they gave me. Yup, 2197. So they kept that 0.995 of 1 share. If this was a credit card rounding or just about anything else they would've made it rounded up to 2198. Pathetic IMO. My other accounts were less of a hit, but 0

[Quintessential1]

I opted to add some shares when it started trending lower and average my share price down and reduce my remainder to .0165.  I figure I saved the commision on my new share purchases a few times over.  Had I had your amount of shares I might have sold the 770 and opted for a zero remainder.   With the spike in price these are all more than priced in now but yeah they made few

[westcoast2019]

I had similar experience. I held KL shares in 3 accounts figure I got shafted for about a value of $75.50 CAD . I think this isn't always standard procedure if I remember correctly from a past merger I was paid a few dollars cash in lieu of partial shares.

[Antonyius]

That's the norm but they did say they weren't going to round up or give you cash for partial so everyone had ample heads up to get to a number that minimized the amount of rounding loss. I think I got mine to be 0.09. I think if they didn't announce it I would understand but they did tell you ahead of time this would happen.

[TimeBuilder]

FYI:  we sold off a few of KL.T shares just before the final days of trading ( rounding of as we call it)....Sooo we only lost .074 of  a AEM.T share in  total. ..as we played with our numbers.. to cut our losses to a the bare minimum based on our total holdings. .Took a little Time to figure out  BUT worth it ... IMO If we had  left them as they were .9 /.8 of a AEM.T