Timing of Offeror's Notice

Aurelian Resources Was Stolen By Kinross and Management But Will Not Be Forgotten

The company whose shareholders were better than its management

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Orange Flash

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Timing of Offeror's Notice

posted on Oct 13, 2008 06:08AM

As I read the Canadian Business Corporations Act (CBCA), Kinross must send its Offeror's Notice by registered mail within 60 days from the end of the offer, which date I take to be September 29th. Last mailing date should be thus November 28th. After receipt of this notice, ARU shareholders have 20 days to repond, there being two options, or do nothing which is taken as accepting the terms of the offer.

The CBMA is current up to September 11th. There have been a number of posters saying they expect K shares to turn up in there account shortly, or at least at some point, without any action of their part.

Could someone post a reference that would give a basis for such action? This sudden appearing of shares appears to be at odds with the requirements of the governing statute.