It can be done either way.

If done today, transfer "in kind" it must be done with a representative at TD, the closing price of Friday 0.405 is used. So TM is correct and 12,300 shares can be transferred to your TFSA today if you can reach an agent to process your request.

If done tomorrow when markets are open, again it must be processed by an agent at the respected institution (generally no fees are charged) and the price can be chosen anywhere between the high and low of the day.

Skier