THE INVESTOR'S GUIDE TO WARRANTS:
Capitalize on the Fastest Growing Sector of the
Stock Market, Second Edition (Hardcover)
by Andrew McHattie Rating: ISBN-10: 027303751X
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Address: 500 - 1 Toronto St
Toronto ON M5C 2W4
Phone: 416 643 8820
Fax: 416 643 8827
Website -
http://www.norbord.com/
Warrant Symbol - NBD.WT
Number Trading - 136,301,987
Expiration Date - Dec. 24, 2013
Cusip - 65548P 12 2
Exercise Price - $1.36
Warrants called to trade news:
Norbord to list 136.30
million warrants Dec. 29
2008-12-23 16:49 MT - Warrants
Called to Trade
TSX bulletin 2008-1520
A total of 136,301,987 common
share purchase warrants of
Norbord Inc. will be listed on
Monday, Dec. 29, 2008, of which
54,801,985 warrants will be
issued and posted for trading at
the opening on Monday, Dec. 29,
2008, under the following
information and up to 81,500,002
will be reserved for issuance.
Symbol: NBD.WT
Cusip: 65548P 12 2
Trading: Canadian dollars
Designated market-maker:
Independent Trading Group
Other markets: None
The warrants were issued in
connection with a recently
completed rights offering by the
company whereby shareholders
were granted rights to subscribe
for and purchase units, each
unit consisting of one common
share and one-half of a warrant,
each whole warrant entitling the
holder to purchase one common
share of the company at an
exercise price of $1.36 per
share until 5 p.m. (Toronto
time), on Dec. 24, 2013.
Details of the rights offering
were contained in Toronto Stock
Exchange bulletin 2008-1348
dated Nov. 21, 2008.
The warrants are governed by the
terms of the warrant indenture
to be dated as of Dec. 24, 2008,
between the company and CIBC
Mellon Trust Company, as
trustee. The warrant indenture
provides for appropriate
adjustments to the warrants in
the event of stock dividends,
subdivisions, consolidations and
other forms of capital
reorganization.
- Expiration Date: The last day the warrants can be exercised. If warrants aren't going to be exercised then they must be sold the day before the expiry date. The longer the time to expiry the more valuable the warrants.
- Leverage: A measure of how much you can increase your exposure to a share if you bought warrants instead of making a direct investment. It is the current share price divided by the current price of the warrant.
- Intrinsic Value: The difference between the exercise price and the actual trading price of the common stock. Once the common has gone over the exercise price, the warrants are "In the Money."
- Volatility: The higher the volatility rating, the higher the price of the warrant. Historical volatility is calculated by using the standard deviation of an underlying stock price over a specific period.
- Time Value: The difference between the current warrant price and its intrinsic value. Interpreted as the consideration paid for the advantage the warrant buyer has over the direct investor.
