Codemasters shares

Hi,

I have a a few shares of codemasters which has been suspended due to being bought by EA.

Pretty new to all this and only have a small amount invested in a pie, but I am wondering what happens to the shares I own in codemasters now?

Any guidance appreciated

Check the companies RNS (regulatory news service) feed.

https://www.codemasters.com/investors/#regulatory-news

It looks like they paid 604pence per share.

You need to check that is correct and when the payment/completion date is, for when you can expect the cash for your shares that should have been sold at that price effectively.

It might take a few days from that point, as I believe EA pay Interactive Brokers, which once reconciled pay 212, and 212 do the same and forward on to everyone their cash due.

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Thank you. Really appreciate the explanation.

Out of interest, can you not keep your position in Codemasters / Now EA or do they get bought out from under you and you have no option in this scenario?

What I’m asking is, do they not offer you any shares in the company doing the takeover in these circumstances?

https://irpages2.equitystory.com/websites/rns_news/English/1100/news-tool---rns---eqs-group.html?article=31654476&company=codemasterssoft

I think that’s the document that’s most important, in particular these sections:

Settlement of cash consideration
Each Scheme Shareholder on the register of members of Codemasters at the Scheme Record Time, being 6.00 p.m. on 17 February 2021, will receive 604 pence in cash for each Scheme Share held. Settlement of the consideration to which each Scheme Shareholder is entitled will be made in accordance with the terms of the Scheme, full details of which are set out in the Scheme Document. The latest date for the despatch of cheques or the crediting of CREST accounts (for Scheme Shareholders holding Scheme Shares in certificated form and in uncertificated form, respectively) in respect of the cash consideration in relation to the Acquisition is 4 March 2021 (being 14 days after today’s date).

Cancellation of admission of Codemasters Shares to trading on AIM

Trading in Codemasters Shares on AIM was suspended with effect from 7.30 a.m. today and admission of the Codemasters Shares to trading on AIM is expected to be cancelled with effect from 7.00 a.m. on 19 February 2021.

As a result of the Scheme having become Effective, share certificates in respect of Codemasters Shares have ceased to be valid documents of title and entitlements to Codemasters Shares held in uncertificated form in CREST are being cancelled.

So no to your answer about converting Codemasters to EA shares, but you could purchase EA shares.

If I am reading it right, then the latest Interactive Broker will receive the cash you are due, is Thursday the 4th of March. I’m not sure the turnaround times for IB to transfer the cash to 212, and 212 to reconcile and split the monies between all investors. Friday the 5th March, or potentially Monday 8th if I were to guess. I don’t know how automated the process is.

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