Re: MERGER OF BRITISH AEROSPACE
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Posted by Mark on December 04, 1999 at 13:11:24:
In Reply to: MERGER OF BRITISH AEROSPACE posted by Charalambos Macheras on December 03, 1999 at 09:31:59:
: Hi Mark ,
: As you can see from the following text (copied and pasted from Motley Fool UK), British Aerospace has completed a merging with General Electric GEC, in which I owned some shares. Could you please help and instruct me how to record this transaction in FM, replacing my existing shares of GEC with the new situation?
: Thank you very much for your time.
: Harry
: -----------
:
: Shares B / British Aerospace
: : URL: http://boards.fool.co.uk/Message.asp?id=2070015000050000&sort=id :
: Subject: Announcement Date: 29/11/99 17:58
: Author: TMFNigel Number: 161 of 169 : -------------------------------------------------------------------------------- : BRITISH AEROSPACE PUBLIC LIMITED COMPANY ("British Aerospace")
:
: MERGER OF BRITISH AEROSPACE WITH MES COMPLETED :
: British Aerospace announces that the merger with MES, the
: defence electronics business of The General Electric Company,
: p.l.c. ("GEC"), (the "Merger") has become effective today. The
: Merger creates the third largest aerospace and defence company
: in the world, with leading-edge technology. : Detailed discussions on the undertakings with the Secretary of
: State for Trade and Industry continue. It is anticipated that
: agreement on the specific terms of the undertakings will be
: reached before 9 February 2000. : Based on the number of ordinary shares of GEC in issue as at
: 4.30 p.m. on Friday, 26 November 1999, each former ordinary
: shareholder of GEC will be entitled to 0.42879282 new British
: Aerospace ordinary shares and 13.542904 pence in nominal value
: of capital amortising loan stock ("CALS"). Fractions of new
: British Aerospace ordinary shares will not be allotted but
: will be aggregated and sold and the net proceeds will be paid
: to the former ordinary shareholders of GEC entitled thereto.
Hi Harry,
It looks like you will be getting .428... shares for each old
share you held, plus some cash. You can handle this a couple
of ways. You can record a split plus a distribution in your existing
investment, and then just change the name/symbol. You could also
record a sell in your existing investment, and then a buy into
a new investment. It is sort of up to you, how you would like
to keep track of this.
Thanks,
Mark
--
Mark Beiley
Fund Manager for Windows 3.1x/95/98/NT
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