'steve3752' pid='70445' datel Wrote:
'katytrader' pid='70426' datel Wrote:
'MRP' pid='70420' datel Wrote:Yes. As long as you can still buy IOC shares you can get the CVR. The CVR is not structured like a dividend which has a cutoff date (ex-div) then continues to trade without the right to the dividend (or CVR). On the closing date of the merger all IOC shares will turn into either 1. Cash + CVR or 2. OSH shares + CVR and there will be no IOC shares remaining. IOC will not trade in absence of the CVR right at any time unless they materially alter the deal.Right, MRP. And for sake of complete accuracy, if demand for cash is more than the alloted $770milion, then some will have Some cash + Some OSH shares + CVRs, as things are now proposed.
What has not been well thought out is how Americans will be able to hold shares in an Australian company in their American brokerage account without an ADR for Oil Search.
This was asked on the conderance call with Raymond James by Pavel and MH said that he did not know if OilSearch would have an ADR and said that was an Oil Search issue ie not his problem.
Problematic, especially for IRA money. Another example of the arrogance of MH and how he cares zero for the interest of shareholders.
RJ has an International trading desk and all shareholders will be able to hold Oil Search Australian traded shares.