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Canadian Pacific Ltd. Aug. 16 announced plans to mail an arrangement circular to shareholders starting Aug. 21 per its proposed reorganization.

The Toronto Stock Exchange plans to begin "when-issued" trading for the five new public companies Aug. 21 at 9:30 a.m. EST; trading on the New York Stock Exchange would start at about the same time.
Acquisition and ownership reporting rules under Canadian securities laws would apply to share purchases per the number of outstanding shares of each company following CP's plan of arrangement; U.S. reporting rules also would apply.

As of July 31, CP had 316,368,470 common shares issued and outstanding; PanCanadian, 256,122,092. Based on those totals, previously announced exchange ratios and, assuming CP completes its plan of arrangement, each company would have the following number of common shares issued and outstanding:

• Canadian Pacific Railway, 158,184,235;
  
• PanCanadian, 254,395,413;
  
• Fording, 52,517,166;
  
• CP Ships, 79,092,117; and
  
• Fairmont Hotels & Resorts, 79,092,117.
  

Each company approved a shareholders rights plan that's exercisable if a person tries to acquire 10 percent or more of common shares, or 20 percent of PanCanadian (including "when-issued" trades), other than by a permitted takeover bid.