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DewDiligence

02/19/16 6:41 PM

#12139 RE: jbog #12138

For former PCL shareholders who plan to hold WY long-term, the 1.6 exchange ratio (which PCL pushed hard to obtain over a period of several years, as described in the SEC filings for the merger) is the metric of consequence. WY’s share price will take care of itself in due course.