ARC
ARCPOINT INC
stock CVE

FYI - a circular just came out on June 9
If your broker cannot do foreign shares (LSE) then you'll get cash . No ADRs
Q: What will I receive under the Arrangement?

Pursuant to the Arrangement, each ARC Shareholder (other than Dissenting ARC Shareholders) will transfer their ARC Shares to AcquisitionCo, the affiliated assignee of Shell Canada to be determined prior to the Effective Date, in the manner set forth in the Plan of Arrangement and will be entitled to receive the Consideration for each ARC Share held of: (i) $8.20 in cash; and (ii) 0.40247 of a Shell Share, subject to rounding, withholding and Stamp Taxes and other adjustments, in each case as set out in the Plan of Arrangement. See "The Arrangement – Arrangement Steps" and "The Arrangement – Procedure for Exchange of Certificates and DRS Advices by ARC Shareholders" in the body of this Circular. No fractional Shell Consideration Shares will be issued under the Plan of Arrangement. If a former ARC Shareholder would otherwise be entitled to receive a fractional Shell Consideration Share, the number of Shell Consideration Shares to be delivered to such former ARC Shareholder will be rounded down to the nearest whole Shell Consideration Share, and such former ARC Shareholder will receive at Shell's election: (i) a cash payment equal to such fractional interest multiplied by the opening LSE price of a Shell Share four (4) Business Days before the Effective Date, converted to Canadian dollars at the applicable Bank of Canada rate, and rounded to the nearest $0.01; or (ii) such ARC Shareholder's due proportion of the net proceeds from the sale of aggregated fractional entitlements (after deduction of all applicable brokerage, Stamp Taxes and other Taxes and charges, and selling costs), in lieu of such fractional Shell Consideration Share in accordance with the Plan of Arrangement. The cash payment will be converted to Canadian dollars using the then-prevailing exchange rate for the conversion of British pounds to Canadian dollars that is available to the Selling Agent, as applicable, in accordance with the Plan of Arrangement. In calculating fractional interests, all ARC Shares registered in the name of, or beneficially held by, such former ARC Shareholder or its nominee(s), will be aggregated. If the aggregate cash amount which a former ARC Shareholder is entitled to receive pursuant to the Plan of Arrangement would otherwise include a fraction of $0.01, then the aggregate cash amount to which such former ARC Shareholder shall be entitled to receive shall be rounded to the nearest whole $0.01. An ARC Shareholder that is an Ineligible Foreign Holder will not receive Shell Shares. Instead, the Shell Consideration Shares to which such holder would otherwise be entitled will be delivered to the Nominee, who will sell those Shell Consideration Shares (for the benefit of, and as agent and nominee for, such Ineligible Foreign Holder) and pay and deliver the applicable net proceeds (together with the Cash Consideration) in cash to such Ineligible Foreign Holder in full satisfaction of such Ineligible Foreign Holder's right to receive Share Consideration under the Arrangement. See the Letter of Transmittal for more details. See "The Arrangement – Arrangement Steps", "The Arrangement – Procedure for Exchange of Certificates and DRS Advices by ARC Shareholders" in the body of this Circular.

FYI - a circular just came out on June 9
If your broker cannot do foreign shares (LSE) then you'll get cash . No ADRs
Q: What will I receive under the Arrangement?

Pursuant to the Arrangement, each ARC Shareholder (other than Dissenting ARC Shareholders) will transfer their ARC Shares to AcquisitionCo, the affiliated assignee of Shell Canada to be determined prior to the Effective Date, in the manner set forth in the Plan of Arrangement and will be entitled to receive the Consideration for each ARC Share held of: (i) $8.20 in cash; and (ii) 0.40247 of a Shell Share, subject to rounding, withholding and Stamp Taxes and other adjustments, in each case as set out in the Plan of Arrangement. See "The Arrangement – Arrangement Steps" and "The Arrangement – Procedure for Exchange of Certificates and DRS Advices by ARC Shareholders" in the body of this Circular. No fractional Shell Consideration Shares will be issued under the Plan of Arrangement. If a former ARC Shareholder would otherwise be entitled to receive a fractional Shell Consideration Share, the number of Shell Consideration Shares to be delivered to such former ARC Shareholder will be rounded down to the nearest whole Shell Consideration Share, and such former ARC Shareholder will receive at Shell's election: (i) a cash payment equal to such fractional interest multiplied by the opening LSE price of a Shell Share four (4) Business Days before the Effective Date, converted to Canadian dollars at the applicable Bank of Canada rate, and rounded to the nearest $0.01; or (ii) such ARC Shareholder's due proportion of the net proceeds from the sale of aggregated fractional entitlements (after deduction of all applicable brokerage, Stamp Taxes and other Taxes and charges, and selling costs), in lieu of such fractional Shell Consideration Share in accordance with the Plan of Arrangement. The cash payment will be converted to Canadian dollars using the then-prevailing exchange rate for the conversion of British pounds to Canadian dollars that is available to the Selling Agent, as applicable, in accordance with the Plan of Arrangement. In calculating fractional interests, all ARC Shares registered in the name of, or beneficially held by, such former ARC Shareholder or its nominee(s), will be aggregated. If the aggregate cash amount which a former ARC Shareholder is entitled to receive pursuant to the Plan of Arrangement would otherwise include a fraction of $0.01, then the aggregate cash amount to which such former ARC Shareholder shall be entitled to receive shall be rounded to the nearest whole $0.01. An ARC Shareholder that is an Ineligible Foreign Holder will not receive Shell Shares. Instead, the Shell Consideration Shares to which such holder would otherwise be entitled will be delivered to the Nominee, who will sell those Shell Consideration Shares (for the benefit of, and as agent and nominee for, such Ineligible Foreign Holder) and pay and deliver the applicable net proceeds (together with the Cash Consideration) in cash to such Ineligible Foreign Holder in full satisfaction of such Ineligible Foreign Holder's right to receive Share Consideration under the Arrangement. See the Letter of Transmittal for more details. See "The Arrangement – Arrangement Steps", "The Arrangement – Procedure for Exchange of Certificates and DRS Advices by ARC Shareholders" in the body of this Circular.