Norsat takeover (BMOIL)

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fireseeker
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Norsat takeover (BMOIL)

Post by fireseeker » 09 Aug 2017 19:13

Passing on an unusual experience with the recent takeover of NII, which I held in a TFSA.
The takeover price was $11.50 USD, which the company announced was worth $14.57 CDN as of the takeover date.
http://www.norsat.com/news-releases/nor ... th-hytera/
Oddly, I received $14.209 CDN per share. The amount suggests BMOIL took the $11.50 USD and converted it unbidden while keeping its usual forex vig.
I called asking for an explanation and BMOIL immediately offered to credit my account the 36 Canadian cents a share that had evaporated.
Other holders may wish to verify they got paid out appropriately.
(Fixed typo)
Last edited by fireseeker on 09 Aug 2017 20:01, edited 1 time in total.

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IdOp
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Re: Norsat takeover (BMOIL)

Post by IdOp » 09 Aug 2017 19:56

fireseeker wrote:
09 Aug 2017 19:13
... the company announced was worth $11.57 CDN as of the takeover date.
Typo? Did you mean $14.57 CDN ?

fireseeker
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Re: Norsat takeover (BMOIL)

Post by fireseeker » 09 Aug 2017 20:02

Ah, yes, typo. Fixed now, thanks.

Hammerer
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Re: Norsat takeover (BMOIL)

Post by Hammerer » 09 Aug 2017 20:50

It doesn't impact me, but thank you for posting this and sharing with others.

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IdOp
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Re: Norsat takeover (BMOIL)

Post by IdOp » 09 Aug 2017 22:53

+1 :thumbsup:

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