Attention to those of you who own Canadian Natural Resources Limited (CNQ): CNQ has announced a corporate restructuring, consisting of a spinoff of a new company, PrairieSky Royalty Ltd. (PSK). As part of this spinoff, holders of CNQ stock will receive 0.02 shares of PSK for every share of CNQ owned; we are currently in the process of determining how to adjust for this spinoff. Once we have determined this, we will provide further instruction on how to proceed with the position.
At this point, no action is necessary for you to take on CNQ. Continue to trade the position by the tenets of the Method as usual.
If you have any questions regarding the spin-off, please do not hesitate to contact us at 1-888-6SNIDER or at support@snideradvisors.com.
