Bye bye IOC shares

[Kaliboo]

Looks like Fidelity has wiped them from my account.  One less degree of freedom.  Can't sell these things on the market.  Good luck to all.

[Getitrt2]

That makes no sense. The stock is still trading. I think it will trade through the day before the closing date, on which date they will convert to XOM stock as of 12:01 am, unless that has changed since the previous MIC.

[Kaliboo]

That makes no sense. The stock is still trading. I think it will trade through the day before the closing date, on which date they will convert to XOM stock as of 12:01 am, unless that has changed since the previous MIC.

Maybe cause I dissented.

[weaselpuppy]

That makes no sense. The stock is still trading. I think it will trade through the day before the closing date, on which date they will convert to XOM stock as of 12:01 am, unless that has changed since the previous MIC.

Maybe cause I dissented.

Probably so, mine are at Fidelity and are still there with no dissent, so.....

[AU74]

Think fewer shares on the market will drive the price up a tad?

[Palm]

The shares aren't off the market/retired. It could just be that Fidelity is anticipating the next steps per the law where the share certificates must be sent to IOC/IOC's transfer agent for "endorsement" that those shares are part of the dissenting group. These shares can't be traded once an offer is made, so they likely are securing them in anticipation of the next steps once the offer is made.

Seems Fidelity ought to have notified any dissenter of what is being done, but they don't do these things very often.

Explain that to the wife. Don't worry honey.......... Ha! Never a worry with IOC!

[Kaliboo]

The shares aren't off the market/retired. It could just be that Fidelity is anticipating the next steps per the law where the share certificates must be sent to IOC/IOC's transfer agent for "endorsement" that those shares are part of the dissenting group. These shares can't be traded once an offer is made, so they likely are securing them in anticipation of the next steps once the offer is made. Seems Fidelity ought to have notified any dissenter of what is being done, but they don't do these things very often. Explain that to the wife. Don't worry honey.......... Ha! Never a worry with IOC!

They did notify after the fact.  I.e. The transaction history online mentions the dissent.  I'm thinking fewer dissenters is a good thing for the dissenters AND for IOC.

[Palm]

The best for dissenters would be if PM does not dissent. If his shares are in the mix, it will be very difficult for IOC to do much other than state they are unable to make an offer. Then dissenters likely are back in the same boat as general shareholders and get the deal as offered.

[jft310]

Best to read the MIC and Exxon has to approve all Interoil actions . A lawyer we know stated that legally Exxon is on the hook now .
Interoil can go broke ok but financially Exxon will pay ,
Remember even though the voting is over a dissenter or a no vote can change their vote ,
I see surprises for some .

[jft310]

The shares aren't off the market/retired. It could just be that Fidelity is anticipating the next steps per the law where the share certificates must be sent to IOC/IOC's transfer agent for "endorsement" that those shares are part of the dissenting group. These shares can't be traded once an offer is made, so they likely are securing them in anticipation of the next steps once the offer is made. Seems Fidelity ought to have notified any dissenter of what is being done, but they don't do these things very often. Explain that to the wife. Don't worry honey.......... Ha! Never a worry with IOC!

They did notify after the fact.  I.e. The transaction history online mentions the dissent.  I'm thinking fewer dissenters is a good thing for the dissenters AND for IOC.

Exxon will pay.