still no reply to my issues from another bmo investorline representative in regards to the process of getting rights into my account and why the delay.....anyways, will report further replies from them and trading agent if i do get any further correspondence so that we are better informed for future rights offerings for any investments we got. as far as corporate action needed for the rights, here is the myling message i got. so what happen to an option to sell the rights in open market. options are 1 exercise 0 shares overalottment, 2 exercise and instruct on how many overalottment of shares you want, 3 do nothing rights expire worthless, 4 sell rights on open market.
BMO InvestorLine has been informed of a rights subscription for Ainsworth Lumber Co.
Option 1: Rights Subscription (Share)
One (1) Rights entitles the holder to purchase 1.388422 shares of Ainsworth Lumber Co Ltd (CUSIP: C01023206) at a subscription price of CAD $ 1.25 per share.
If you wish to oversubscribe, please clearly indicate the number of shares you wish to oversubscribe for when submitting instruction.
Option 99: Do Nothing (DEFAULT)
Rights not exercised prior to expiry date will be null and void and will expire worthless.
Shares issuable upon exercise of the Rights and the Standby Shares in each Province of Canada.
The Rights as well as the Common Shares issuable upon the exercise of the Shareholders in any jurisdiction other than the Eligible Jurisdictions and, except under the circumstances described herein, Rights may not be exercised by or on behalf of a holder of Rights resident in an Ineligible Jurisdiction.
BMO InvestorLine requests that you direct inquiries pertaining to the offer (other than submission of instructions) to Ainsworth Lumber Co Ltd. Shareholders are advised to obtain independent advice and consult the offering circular regarding any possible tax consequences and for further details of the offer.
Please call BMO InvestorLine and provide your instructions to any BMO InvestorLine Client Relationship Consultant at 1-888-776-6886. Faxes and/or written instructions will not be accepted. Instructions must be received prior to December 20, 2012 9:00am Eastern Standard Time (EST). Any instructions received after this time will be sent on a best effort basis only. If no instructions are received, BMO InvestorLine will take no action.
BMO InvestorLine does not charge your account any commission for reorganizations or entitlements. Please allow 1-3 weeks after the expiry date for processing of Canadian issues and up to 90 days if US based. If you tender your shares to an offer, please ensure you do not place any sell orders on the position. This may result in a short position and financial losses that you may be responsible for. If you wish to place a sell order, consult with one of our Client Relationship Consultants first to ensure your original instructions can be cancelled.
For offers that include a cash payment, the payment will be deposited in the account in the same currency as the currency in which the position is held in the account, which may result in exposure to a foreign currency conversion. BMO Investorline will not be responsible for any losses incurred as a result of a foreign exchange conversion.
The information in this letter is compiled from sources believed reliable. However, BMO InvestorLine does not ensure the accuracy, adequacy, timeliness, completeness, or fitness of the data and as such assumes no liability for any losses resulting in its use.