The Yukon Court found Fair Value of $ 71.46 per share for the many Dissenters not satisfied with XOM and prior offers discussed at length on this Forum. See Carlock v Exxon Canada Holdings S.C. 16-AO193
Dissenters win $ 71.46 Fair Value Judgment
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02-24-2019, 08:50 AM
While I'm not familiar with the details, that looks like a pretty big win, congrats for the holdouts!
'pngresource' pid='82788' datel Wrote:
1. Here is an article discussing the decision - which will certainly be appealed vigorously: 2. Must the Dissenters pay a fee to their Liars (er, Lawyers), or do they get the entire $71.46 per share?
Drivel Maven with Personality
02-27-2019, 12:01 PM
Hi Stavros, long time no seeing. This feels almost like a school reunion, and it seems a happy one, although I'm not sure much of our bunch were in the dissenter camp. Congrats to them!
02-27-2019, 02:00 PM
'admin' pid='82819' datel Wrote:
YES - I hope you are doing good. We are well.
To my opinion, this ruling will be overturned on appeal. I'll try to copy/paste the full article in a separate POST
Drivel Maven with Personality
03-03-2019, 05:52 AM
Dissenters hired experts with outstanding, world-wide experience and reputations for valuation of oil and gas companies, transactions and corporate governance. Their valuation report illustrates worldwide expertise. It is extensive and compelling. Dissenters' legal experts felt the sale/pricing process lacked statutory and public company standards for achieving fair/maximum value for IOC Shareholders. Please recall, the Court of Appeals raised similar questions in the past- and found IOC did not meet requisite legal standards under the circumstances. Unfortunately, we were not able to introduce the prior farm-in bid estimated on this forum as being about $ 4,5 Billion for 4tcfe of IOC gas. Other participants now publish 52 tcfe of gas estimated under the 4 Million acres-the same as IOC. FID for Papua LNG is committed for this quarter by all parties. Dissenter experts believe most if not all expenses incurred will be reimbursed under the circumstances and interest should be paid on the fair value determined,over the period of time between the sale/valuation date and when funds are paid. Time will tell.
03-03-2019, 07:51 AM
Yea, the guy in the pink shirt sold us out and went home with his $25M acquisition bonus..
03-03-2019, 11:10 AM
Dissenters know the payday exceeded $ 35 Million and how to attach assets. It's unbelieveable others did not opt for Dissent. So the stock received went down as predicted by Pavel,etc. Dissenters paid little per share-which they will recoup per experts, get interest and a great return on investment for following our beliefs- now confirmed by the experts. And where is the " class action " suit fbo 50 Million shareholders? Please bring us up to date,as Dissenters are excluded by the Attorneys definition of the class.
03-03-2019, 12:54 PM
It's a great win PNG, congrats!
03-08-2019, 02:46 AM
My congratulations ,also !! Hope you get paid soon. You guys deserve the rewards for all your struggles and patience .At ( soon to be 88), I wasnot sure I should wait .Ha,ha Best of luck in your future endeavors ." God bless", sageo |
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