First Quantum acquisition of Lumina uses tainting nominal cash for the share consideration alternative, and provides for cashless option surrenders

Lumina Copper shareholders can elect to receive First Quantum shares or cash for the acquisition of their shares subject to proration to keep the overall cash/share mix essentially fixed.  Similarly to the Loblaw acquisition of Shoppers Drug Mart, those who elect solely for First Quantum shares also are required to receive $0.01 per share in cash, so that Canadian taxable shareholders who want rollover treatment must elect under s. 85 with First Quantum.  Built into the Plan of Arrangement is a compulsory cashless surrender of Lumina stock options, so that the holders receive Lumina shares equal to the in-the-money value of their options.

Neal Armstrong. Summary of Lumina Circular under Mergers & Acquisitions – Mergers – Shares for Shares and Nominal Cash, or Shares.