In determining the proposed share structures, the Company has relied on the Reports which are based on current valuations and assumptions and, accordingly, are subject to uncertainty and change in circumstances that may result in modifications to the general share exchange ratios proposed below:
This value will be more clearly established when the Kalukundi feasibility study is completed at which time final exchange ratios will be determined.
In the event of a spin off of TerreStar, the exchange ratios applicable to TMI's exchange right would be modified accordingly.
In addition to their receipt of the special dividend, SkyTerra's securityholders would receive Motient common stock at an exchange ratio reflecting equivalent economic value for MSV/TerreStar as received by the other MSV/TerreStar stockholders.
Evercore Partners provided an opinion to the Special Committee of the Board of Directors that, as of the date of the opinion, the Class B exchange ratio
was fair from a financial point of view to the holders of Class B shares.
The final exchange ratio
for existing Bank Mutual Corporation shareholders will depend upon the number of shares which are sold in the offering and we cannot assure any particular exchange ratio
The number of shares that minority stockholders will receive will be calculated based on an exchange ratio
that is intended to ensure that after the conversion and offering minority stockholders will maintain approximately the same ownership interest.
If HP extends the offer, the final exchange ratios
for the fixed offer price and the contingent offer price will be based on the average closing sales price of HP common stock on the New York Stock Exchange during the 20 consecutive trading days ending on the day which, as of the expiration of the exchange offer, is the third most recent closing of the U.
The exchange ratios proposed in your August 20 press release do
Our proposed exchange ratio gives recognition to the fact that our shareholders would be contributing approximately 50% of the value of a three way combination.
If the share consolidation does not occur, the exchange ratios
for the offers will be restated on a non-consolidated basis.
The final exchange ratio
will be the lowest exchange ratio
at which a sufficient number of shares have been tendered (including tenders at lower exchange ratios
) to enable Viacom to exchange its entire ownership in TCI Pacific.