The Egyptian Stock Exchange (EGX) will implement a new closing price mechanism on Thursday.
The new regulations stipulate that in order for a stock's closing price to change, the number of shares traded should not be less than 0.
The implementation of the new closing price mechanism comes after the completion of the last primary update of the current trading software known as Xstream OMX, which will expedite the execution of orders.
For smaller countries, however, in the event of unexpected market closures, MSCI reserves the right to implement the index rebalancing as planned using the closing price
of the last day the market was open.
83 per Normandy share (based on Friday's closing price
of Newmont shares on the New York Stock Exchange).
Based upon the recent average closing price of SunGard common stock, the price to be paid for each Oshap share is $15.
Based upon SunGard's closing price of $40 1/4 on March 8, 1999, the shares to be issued by SunGard in the transaction, representing approximately five percent of SunGard's outstanding shares, have a current value of approximately $210 million.
0% premium over the average of Brylane's closing prices
for the past 30 and 60 trading days, respectively.
We also propose that, upon consummation of the tender offer, UPR and Pennzoil enter into a merger transaction in which each remaining Pennzoil share will be exchanged for a number of UPR shares, determined, within a pricing collar of $25 to $30, by dividing $84 by the average of the closing prices of UPR common stock for the twenty consecutive trading days ending five days prior to the meeting of Pennzoil shareholders called for the purpose of voting on the proposed merger.
The proposed transaction represents a 41% premium over Pennzoil's closing price of $59.
Based on these closing prices
, the aggregate consideration to be offered under the proposed offer would represent a premium over the closing price
of the Tarxien common shares of 19 percent.
The exercise price has been calculated using the average closing price
per share based on the closing prices
during the period from February 29, 1996 to March 6, 1996, being the day preceding the day on which the option was granted.