(July 19 – 15:10 ET) – Next Monday Trimark Financial shareholders will vote on the proposed merger with Amvescap plc. The TSE is outlining the rules for settling the deal.

Amvescap is offering about $2.7 billion for Trimark in a mix of cash, exchangeable shares and debentures. Shareholders are free choose their preferred payment method, subject to certain limits on each method. Shareholders who don’t make a choice by tomorrow at 17:00 ET will receive shares. Orders not specifically enterned as “cash” will settle on a regualar basis.

The following trading and settlement rules will apply to purchase orders specifically entered as “CASH”. Buyers on July 18 and 19 who wish to make a choice must place their purchase orders on a cash delivery basis for next day settlement. Buyers on July 20 who want a choice must place their purchase orders from 09:30 ET and 12:00 ET for cash same-day settlement.

Clients whose brokers have failed to deliver their stock must contact their brokers by 14:00 ET on July 20 to determine how fail positions are to be tendered.
-IE Staff