vote yes or no current math

TULLOW OIL (LSE:TLW.L)

Last Trade: 412.00 p
Trade Time: Nov 21
Change: 6.50 (1.60%)
Prev Close: 412.00
Open: 403.00
Bid: 411.75 x 32749
Ask: 412.25 x 4300
1y Target Est: 385.01


xe.com Universal Currency Converter ® Results
Live mid-market rates as of 2006.11.22 02:28:26 UTC.
4.12 GBP
United Kingdom Pounds = 10.1599 AUD
Australia Dollars
1 GBP = 2.46598 AUD 1 AUD = 0.405517 GBP


one Tullow shares costs $10.16


10 hdr shares gets you 2.2228 Tullow shares


$10.16 x 2.2228 value $22.58

one hdr share $2.25 or 23c above the cash offer.


23c by 40% scrip ( 9.2c ) this means as of today hdr should be $2.11 and current price is $2.08.

Hardly worth holding for 3c unless of course you get more than 40% conversion.

I cant see why anyone who didnt want the scrip would hold and vote no ? seems crazy to me.

If there is going to be another offer it will happen before the meeting so no need to vote in my opinion.