Tweet
I received the following conversion offer today for RIMM stock which I own in my taxable account (shares purchased at a net cost per share of $48.24):
"Process Date: 09/02/2010
Office/RR: LG68
Symbol: RIMM
CUSIP: 760975102
Action: Conversion Offer
Expiration Date: 09/21/2010
Reorg Cut-Off Date / Time (PM C.D.T.): 9/17/2010 5:00
Last Updated:
9/2/2010 10:32 AM
Notes:
Participants are advised of an exchange offer being made by Can-60 Income Corp for multiple securities, including this one. Shareholders who elect to exchange will receive the newly issued nonvoting equity shares of Can-60 Income Corp (CA1346871025) at the rate of weighted NAV dividend by 10.00 per share. The offer does not constitute, and is not to be construed as, a takeover bid for any Issuer. The maximum number of exchange eligible securities of any one Issuer which the company may acquire under the offering pursuant to the exchange option is the lesser of (I) that number which would constitute 10% of the net assets of the company, and (II)that number which if combined with the other securities of such Issuer held, either directly or indirectly, or over which control or direction is exercised, by the manager, would result in the manager or any party acting jointly or in concert with the manager holding directly or indirectly, or exercising control or direction over 9.9% of the outstanding voting or equity securities of a class of securities of such Issuer. The exchange of eligible securities to the company will result in a taxable disposition of such securities by the prospective purchaser who has elected to exchange. The manager reserves the right to waive any conditions of the exchange offer, including the right to accept or reject any security for any reason including, without limitation, an unfavorable relationship between the exchange ratios. To participate please submit instructions to <email address> prior to the REORG CUT OFF DATE above. Any instructions received after this date will be processed on a best efforts basis only."
"Process Date: 09/02/2010
Office/RR: LG68
Symbol: RIMM
CUSIP: 760975102
Action: Conversion Offer
Expiration Date: 09/21/2010
Reorg Cut-Off Date / Time (PM C.D.T.): 9/17/2010 5:00
Last Updated:
9/2/2010 10:32 AM
Notes:
Participants are advised of an exchange offer being made by Can-60 Income Corp for multiple securities, including this one. Shareholders who elect to exchange will receive the newly issued nonvoting equity shares of Can-60 Income Corp (CA1346871025) at the rate of weighted NAV dividend by 10.00 per share. The offer does not constitute, and is not to be construed as, a takeover bid for any Issuer. The maximum number of exchange eligible securities of any one Issuer which the company may acquire under the offering pursuant to the exchange option is the lesser of (I) that number which would constitute 10% of the net assets of the company, and (II)that number which if combined with the other securities of such Issuer held, either directly or indirectly, or over which control or direction is exercised, by the manager, would result in the manager or any party acting jointly or in concert with the manager holding directly or indirectly, or exercising control or direction over 9.9% of the outstanding voting or equity securities of a class of securities of such Issuer. The exchange of eligible securities to the company will result in a taxable disposition of such securities by the prospective purchaser who has elected to exchange. The manager reserves the right to waive any conditions of the exchange offer, including the right to accept or reject any security for any reason including, without limitation, an unfavorable relationship between the exchange ratios. To participate please submit instructions to <email address> prior to the REORG CUT OFF DATE above. Any instructions received after this date will be processed on a best efforts basis only."
Comment