What is happening to LLL.TO and LULU?
Effective Wednesday July 6th, the TSX-listed common shares of Lululemon Athletica Inc. (LLL.TO) will be split. Effective Tuesday July 12th, the NASDAQ-listed common shares of Lululemon Athletica Inc. (LULU) will be split. Open orders for LLL will be cancelled after market close on Tuesday July 5th, and open orders for LULU will be cancelled after market close on Tuesday July 11th.
The terms of the split are: holders of LLL.TO as of July 5th will receive 2 common shares for every 1 common share held. Holders of LULU as of July 11th will receive 2 common shares for every 1 common share held.
How does this affect me?
Open orders for LLL.TO will be cancelled on Tuesday July 5th, and open orders for LULU will be cancelled on Monday July 11th. If you had an open order, you will need to enter a new one.
If you want to continue to hold shares of LLL.TO over the next two weeks you do not need to take any action. Your account will be fully updated to reflect the share split.
If you want to continue to hold shares of LULU from Monday, July 11th through the following two or three business days you do not need to take any action. Your account will be fully updated to reflect the share split within two to three business days of the split.
If you want to close your position in LLL.TO on Wednesday, July 6th or over the next two weeks, you will be able to sell the shares you held in your account prior to the split. If you want to sell any of the additional shares you will be receiving as a result of the split, please contact Questrade’s trade desk at: 1.866.980.9590. Delivery of the additional shares to your account will take up to two weeks since they cannot be delivered until the LULU split has occurred on July 12th.
If you want to close your position in LULU on Tuesday, July 12th or the following two to three business days, you will be able to sell the shares you held in your account prior to the split. If you want to sell any of the additional shares you will be receiving as a result of the split, please contact Questrade’s trade desk at: 1.866.980.9590. Delivery of the additional shares to your account will take two to three business days.
In your account, you may temporarily see a numbered symbol in place of the stock symbol for LLL.TO (on July 6th), or in place of the symbol for LULU (on July 12th). If you want to sell your position, and this numbered symbol appears in place of the stock symbol, please contact Questrade’s trade desk at: 1.866.980.9590.
Does this affect options?
Option contracts for LLL.TO and LULU will be adjusted to reflect the change in strike prices and quantities as a result of the split.
If you have any questions about this stock split, please contact Questrade Client Services at 1.888.783.7866, or http://www.questrade.com/livehelp.