Reuters Share Discussion Threads

[miata] 18/4/2008 12:01

TRIL actually.

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[diogenes dottle] 18/4/2008 11:51

I'll answer myself: Nasdaq TRIN.O

[diogenes dottle] 18/4/2008 09:45

So where is it traded? Canada? and what is new epic?

[martinfrench] 31/3/2008 08:55

i would suggest that is pretty obvious?

banks in trouble meaning more job cuts meaning reduced/lower/flat terminal sales?

[jarjar] 28/3/2008 10:35

what is holding this share down - any ideas please ? - jarjar

[botman2] 23/3/2008 10:12

4.6.1 Free float restrictions include:
a) trade investments in an index constituent either by another constituent (i.e.,
cross-holdings) or non-constituent company or entity,
b) significant long term holdings by founders, their families and/or directors,
c) employee share schemes (if restricted),
d) government holdings.
e) Portfolio investments subject to a lock in clause, for the duration of that
clause
4.6.2 The following are not considered as restricted free float:
a) portfolio investments,
b) nominee holdings (including those supporting ADRs & GDRs), unless they
represent restricted free float as defined by 4.6.i above,
c) holdings by investment companies.
4.6.3 Free float restrictions will be calculated using available published information. The initial
weighting of a constituent in the index will be applied in the following bands.
a) free float less than or equal to 15%= see rule 4.6.4
b) free float greater than 15% but less than or equal to 20% = 20%
c) free float greater than 20% but less than or equal to 30% = 30%
d) free float greater than 30% but less than or equal to 40% = 40%
e) free float greater than 40% but less than or equal to 50% = 50%
f) free float greater than 50% but less than or equal to 75% = 75%
g) free float greater than 75% = 100%

[botman2] 23/3/2008 09:54

its been free float adjusted since 2000



but it would appear the selection process is based on full market cap

question with RTR is can they include tradable canadian shares as free float

[jarbie] 22/3/2008 22:27

MIATA - thanks for the clear explanation
on the topic I did not fully understand
is Sainsburys that way adjusted ?- jarbie

[botman2] 22/3/2008 18:07

a bit strange you can have a company with market cap £7.3bn, effectively pays back £4.4bn cash to shareholders then combines with foreign company and re-enters index at £14.5bn

[botman2] 22/3/2008 18:04

MIATA -- do you have a link to support that.

these guys have the full share capital as far as i can see

[miata] 22/3/2008 17:56

Companies where there is a sizeable controlling or big minority shareholding are included in the FTSE100 not on the basis of their full market value but according to their free float - that's the shares that can be considered freely available and not locked in the hands of a related company or parent. Most major international benchmarks are now calculated on this basis, including the Standard & Poor's 500, the Nasdaq and the stockmarket indices in France and Germany. One example of a free float adjustment in the FTSE 100 is BSkyB, 38% owned by News Corp. Even taking the remaining 62% of its £10 billion market capitalisation leaves it comfortably large enough to qualify for inclusion in the index.

[jarbie] 22/3/2008 17:46

Family or any other holding is immaterial,
all shares are listed as a PLC company
and traded on a stock exchange,
a company shares may be more or less liquid

take Sainsburys or any other ex family business
which may have a large family holding retained,
shares may become less liquid with over 80%
large investor holding, which does not apply here

[jarbie] 22/3/2008 14:55

I am not sure, without going through the weighty prospectus, whether ThRts will just replace the RTR shares in the FTSE 100 or will they need to wait for the next election, but all the combined shares of ThRts will be in the FTSE 100 in due course on the basis of a dual listing

[botman2] 22/3/2008 13:12

jarbie, thanks.

i estimate equity component of the offer equates to roughly 279p x 1238m shares or about £3.5bn. TOC equity cap i believe is $22.1bn (?) or about £11.1bn. on that basis RTR equity will be about 23% of combined.

not much of a freefloat, wonder if it could still be in the FTSE. anyone know the rules & likelihood?

[jarbie] 22/3/2008 12:43

I understand that it will have dual listing in UK and Canada
it will be traded on the LSE in UK£ with dividends paid in UKp

[botman2] 22/3/2008 10:57

anyone have any ideas what will happen with this stock after April 14? will it just trade in Canada/ NYSE ? if it trades in UK will it be included in FTSE indices or has that not been decided yet?

[jarbie] 21/3/2008 22:00

expected timetable - pls correct me if I am wrong

div - xd 23.03.08 - pt 01.05.08 - div 7.00p
stub - xd 14.04.08 - pt 01.05.08 - stub 3.24p

Launch of Th/Rtrs 17.04.08 ( Thursday )
pt of cash element within 14 days of this date

[jarbie] 18/3/2008 20:46

calculation, based on buying 1000 Thomson shares at 575p

cost £5791, less cash at £3525, cost £2266 for 160 Th shares
£/C$ xrate of 2.2, the cost is C$31.16 , not allowing dividends

[pic_n_mix] 18/3/2008 10:36

Original merger valuation was 705p / share, based on:
Cash 352.5p
Shares 0.16 Thompson share (price then was Can$46.36)
Currency was £1 = Can$2.1936

Now Thompson share = Can$35.75

This suggests revised "valuation" would be approx 630p / share

Vote by shareholders is March 26th - if approved merger April 17th

the intervening period has massively devalued the offer, and US credit issues have impacted on Thompson share price, but at current share price I can still see this going thro'

don't forget final dividends = 10p / shares held as of march 25th / april 16th

thoughts anyone?