Q: Can you explain the recent reorganization of trI, ie why my 500 shares turned into 492 with some return of capital.
5i Research Answer:
The intent is to hand cash back to shareholders while keeping the per‑share price roughly unchanged, by shrinking the share count proportionally to the cash that went out. Economically, this is very similar to TRI having repurchased a small slice of everyone’s holdings and paying out cash, but done via court‑approved plan of arrangement and reverse split rather than open‑market buybacks alone. Because the company is controlled by the Thomson family, they get a large cash payment but their percentage share ownership is unchanged as all shares were consolidated.