Post by
geemonet on Jan 19, 2025 7:08pm
60.7 vs 0.3035 Lotus Creek.
The Toronto Stock Exchange reports that Gear Energy Ltd., Cenovus Energy Inc. and Lotus Creek Exploration Inc. (Newco) have entered into an arrangement agreement, pursuant to which, through a series of transactions, holders of Gear shares will transfer each of their Gear shares to Cenovus for cash consideration or common shares of Newco, or a combination thereof. According to the TSX, Gear shareholders will receive 60.7 cents in total consideration per Gear share. Gear shareholders may elect to receive, in respect of each Gear share held, either 60.7 cents in cash, 0.3035 of a Newco share or a combination thereof, subject to the proration and consideration caps set out in the plan of arrangement. It is understood that Newco has applied to list its shares on the TSX Venture Exchange.
What's with the yes or no vote conversation? Isn't the choice between cash or LCE shares at 3:1. Making LCE shares priced around 2.00 as an estimate.
Comment by
tylerreddick on Jan 19, 2025 9:52pm
Lotus ain't worth $2. Simple fact.
Comment by
geemonet on Jan 19, 2025 9:56pm
Have you been able to find how many shares of LTE are being printed? Hard to assign a share price without a share count....