GREY:NMKEF - Post by User
Post by
TeddyBearon Jan 17, 2020 9:41am
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Post# 30564522
Assuming residual value at the end of CCAA
Assuming residual value at the end of CCAAEven if low probability, rules are clear to recover at the best a few pennies on the dollar
https://www.pwc.com/ca/en/car/nemaskalithium/assets/nemaskalithium-001_122419.pdf -
As of September 30, 2019, Nemaska had 847,634,338 common shares outstanding (the “Common Shares”). The more than 25,000 holders of the Common Shares (the “Shareholders”), who are mostly located in Qubec, are entitled to vote at all shareholder meetings, to dividends, if, as and when declared by the board of directors of Nemaska and, upon liquidation or winding-up of Nemaska, to share the residual assets of Nemaska. The Common Shares do not have any pre-emptive, conversion or redemption rights, and all have equal voting rights. Save and except for a pre-emptive right granted to Softbank Group Corp. (“Softbank”) under its investment agreement of May 31, 2018 with Nemaska and effective for so long as Softbank holds 5% of the Common Shares outstanding, there are no special rights or restrictions of any nature attached to any of the Common Shares, all of which rank equally as to all benefits which might accrue to the holders of the Common Shares.