GREY:ARGEF - Post by User
Post by
hcourtemon Aug 20, 2019 3:55pm
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Post# 30047914
PWC
PWC2.Regarding the Stalking Horse Investment Term Sheet presented by Mr. Mazen Alnaimi: In reference to the proposal referred to in the section titled Investment Amount at subsection (iv), please be advised that the basket amount to be offered by the Investor to all unsecured creditors, to be shared on a pro rata basis of their proven unsecured claims, is $350,000. In addition, the proposal put forward by the Investor will stipulate that Mr. Alnaimi renounces the payment of any dividend on account of his unsecured claim, which amounted $604,894.40 as of June 13, 2019, in order to increase the quantum of the dividend to be paid to unsecured creditors. To be clear, this stipulation by Mr. Alnaimi to renounce to the payment of a dividend applies only to the proposal referred to in the attached Term Sheet - not to any other potential proposal that may be put forward to the creditors of Argex Titanium Inc. in the context of a competing bid, should any such bid arise. https://www.pwc.com/ca/fr/services/insolvency-assignments/argex-titane-inc--argex-titanium-inc-.html