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As a holder of less than ten shares, this is the best news I've heard all day.

The proposal for a 1 for 10 share consolidation followed immediately by a 10 to 1 share split will, if approved, result in cash proceeds being paid to shareholders who hold less than 10 common shares. The price to be paid per Trisura common share will be based on the average trading price of Trisura for the 20 days prior to the effective date of the share consolidation and share split (the “effective date”). The effective date shall be set as soon as possible following the receipt of requisite approvals.

Total cash proceeds to be paid to shareholders who own less than 10 Trisura common shares are estimated at $5.7 million.
http://www.trisura.com/group/news


Chart from here -> http://www.4-traders.com/TRISURA-GROUP-LTD-35482805/
 

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As a holder of less than ten shares, this is the best news I've heard all day.


http://www.trisura.com/group/news



Chart from here -> http://www.4-traders.com/TRISURA-GROUP-LTD-35482805/


brookfield is so aggravating with these frequent spinoffs. Before trisure there were bits & pieces of b'field business partners. That's just over past year or so.

the broker offered to sell my bit-n-piece at zero commish. Try this; if zero commish works for you, you'll be happier than sitting around waiting for shareholder approval, etc.
 

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my eye fell upon this detail from zylon's quote just upthread.

Total cash proceeds to be paid to shareholders who own less than 10 Trisura common shares are estimated at $5.7 million

surely it would have cost brookfield less than $5.7 million to structure a deal without spinoffs? why don't they set up another company - there are already so many brookfieldlets & brookfieldlettes that one more company won't hurt - they could set up another company as corporate trash can.

then just move unwanted brookfield bits n pieces into brookfield trascan - the name rhymes with their former corporate handle which was brascan - with no separate legal securities acquisition or disposition events for shareholders.


they could even donate trascan to charities from time to time, with all charitable credits going back to brookfield. The beneficial owners of the bits n pieces probably wouldn't care, because managing the bits n pieces is costing them too much already in administrative time (there are some investors whose tax prep bills are going to increase because the accountant will have to probe for details of whatever-happened-in-trisura)


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