Star Jets Moves Forward In Structuring New Venture

Sell 51 TWC shares. The Company anticipates that the common stock will began trading on The Nasdaq Capital Market on a split-adjusted basis when the market opens on July 10,

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This merger is a cash plus stock reorganization, which are becoming more and more frequent in recent years. The cash received for TWC shares can be considered a partial redemption sale followed by a merger or it can be treated as a reorganization where gain but not loss is realized and gain is limited to the cash received. In their guidance the companies say they plan to treat this as a partial redemption. These instructions will follow that guidance.

In addition, shareholders had a choice in the amount of cash received. Instructions for both choices will be included in this document. Please be aware that the IRS may challenge the interpretation of the companies and the characterization of this merger may change. It may be necessary to delete these transactions and enter this merger as a Merger with cash where gain is limited to the cash received.

We have also set up a short spreadsheet, to help with the calculations needed for this transaciton.

It can be downloaded by clicking the following link:. In this case you would be selling. Since fractional shares you would be entitled to receive will be sold, and not distributed, increase your shares up to the next highest full share.

If you owned TWC shares, you would receive 48 shares of Charter in the merger; this is. For the partial sale you would sell 52 shares leaving 48 shares to go through the merger transaction. If you owned TWC shares before the merger and received In this case the exchange ratio was. Multiply your total TWC shares by.

Keep only the whole number. Subtract this whole number from the TWC total shares. The result is the number of TWC shares to sell. ISS will recommend a vote in favor of a reverse stock split if there is a proportionate reduction in the authorized shares or if the increase in authorized shares is equal to or less than the allowable increase under ISS policy.

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USA November 20 Below are some of the highlights of the ISS updates: More from PubCo Cooley.