Can someone confirm that this is correct?"Entrée will offer...

Can someone confirm that this is correct?

"Entrée will offer PacMag shareholders approximately one Entrée share and Australian 4.3 cents for each 9.83 PacMag shares they hold on the record date."

.. etc ...

"(1) Based on the 20 day VWAP of Entree shares on the TSX to 27 November 2009 of C$2.724 and the Australian dollar / Canadian dollar exchange rate of 0.9656 at close on 27 November 2009."


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By my calculations, this values us at 29c per share, not 33c!:

((2.724 * 1.0356) + 0.043) / 9.83 = 29c

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If they meant .043c cash per each pacmag share then THAT would get 33c per share:

((2.724 * 1.0356) / 9.83) + .043 = 33c

But that's not what they've said in the above, it clearly says 4.3c per 9.83 pmh shares...

I think they have bunged the wording and we are supposed to get 4.3c PER SHARE, and one Entree share per 9.83 PMH shares!!!

The following link states the contradiciting information:

Each PacMag shareholder will receive approximately 0.102 Entree shares and CAD$0.041 (AUD$0.043) cash for each PacMag share

This is far better for us...