From the 11/12/13 press release, "In October 2012, Mondelez International spun off Kraft Foods Group, its North American grocery operations, as an independent company. Based on the Separation and Distribution Agreement between the companies, Kraft Foods Group will direct the net proceeds from the award to Mondelez International."
These numbers are correct. According to the 11/8/13 press release, “Following these warrant exercises, 9,112,307 shares of the Company’s common stock were issued and outstanding as of November 7, 2013.” According to the 10/21/13 press release, “In connection with the acquisition, Oxygen Biotherapuetics will issue to Phyxius’ stockholders in a private placement an aggregate of approximately 3.4 million unregistered shares of common stock and securities convertible into common stock.”
Would you expect them to exercise at a loss? The existence of the warrants was public information. It's your fault if you missed it.
These warrants were announced last July. If you bought after that and didn't know about them you didn't do you DD.
Trials begin after acquisition. From their press release: "Upon closing of the previously announced Phyxius Pharma transaction, we expect to be in a position to commence the Phase 3 FDA trial of levosimendan :
There is no way they can comply with US law and SEC regs in the time involved. If the ADR trustee does its job right you will get the equivalent value from the sale of the ADR rights in Paris.
If you where French and owned 10,000 shares you would have the right to BUY 1951 shares for 2.10 Euros each. This would COST you 4097 Euros. You could then sell those 1951 shares for 2.98 Euros each or 5814 Euros - a gain of 1717 Euros or 0.1717 Euros for each of your original 10,000 shares. At these prices the rights would be worth 23 cents US per ADR owned. A couple of cents higher that when I first looked at this.
(nominal value of €0.05 and issue premium of €2.05) I am not positive, but it looks like the nominal value is similar to our par value, in which case it is an accounting value rather than a real value. As to the decision to sell, that is made by the trustee (JP Morgan Chase?) Let's hope the sell high.
I tried to ask Investor Relations what the symbol for the rights is or would be. As I am American they won't give any info other than that it won't be traded here. If someone overseas asks IR for the info and they respond, please share it with others here.
Let’s say you own 100 shares. You would get the right to buy 19 shares (assuming no fractional shares) at 2.10 euro or $2.71 in USD. You turn around and sell those 19 shares at $3.81 for a gain of $20.90. Since you own 100 shares that works out to 20.9 cents a share US. This number will fluctuate with the share price will be determined by the timing of the sale of the rights by the trustee.
I gave my reasoning and math before the market opened. Currently we are down 5 cents which I see as being up 14 cents based on the value of the rights. How do you get 5 cents or 5 euro?
From the ALU press release: “For holders of the Company’s American Depositary Shares, rights attributed in respect of deposited Existing Ordinary Shares are expected to be sold on their behalf on Euronext Paris before they lapse.”