19-06-2022, 01:51 PM
It's a bit of a joke. I knew there was a merger between the 2 but did not bother as I thought nothing to do.with me.
Today I opened the letter box and the broker send me a.letter to opt for scrip or.cash or mix as I own MNACT..
I own it and forgot about it because it was held as custodian by the broker ...then letter came, realised I have to figure what to do
Quickly catch on the facts.
1. For the purpose of merger MCT is given value of $2.039 and MNACT value of $1.1949. MNACT will be merged into MCT
2. Each MNACT shared holder can choose to get $1.1949 for each share or 0.5963 MCT shares(based on MCT=$2.039)
3. I checked that MCT share price already drop to $1.77.
4. The most logical decision is to opt for all cash which is also the default. If I still want to own MCT I can just buy at $1.77 from the market instead of opting for scrip because it has fallen below $2.039.
5. There is reason anybody to opt for scrip.
Above reasoning correct?.
Did I miss anything?
Today I opened the letter box and the broker send me a.letter to opt for scrip or.cash or mix as I own MNACT..
I own it and forgot about it because it was held as custodian by the broker ...then letter came, realised I have to figure what to do
Quickly catch on the facts.
1. For the purpose of merger MCT is given value of $2.039 and MNACT value of $1.1949. MNACT will be merged into MCT
2. Each MNACT shared holder can choose to get $1.1949 for each share or 0.5963 MCT shares(based on MCT=$2.039)
3. I checked that MCT share price already drop to $1.77.
4. The most logical decision is to opt for all cash which is also the default. If I still want to own MCT I can just buy at $1.77 from the market instead of opting for scrip because it has fallen below $2.039.
5. There is reason anybody to opt for scrip.
Above reasoning correct?.
Did I miss anything?