RE: yellow's instruction to CDS Re; retraction of my PR.A shares - 30 day notice
I forwarded my broker with the link to the CBCA document, the prospectus, and took quotes from the lines. I also forwarded the reply from IR at YLO.
They cannot do anything, according to their back office (who is National Bank) until the CDS gets instructions. They told me to "Call back in a few days" to check again at that point.
My question is related to the wording of the retraction. Regardless of if you read it as your option to give notice at Dec 1 or Dec 31st, doesn't it say to give AT LEAST 30 days notice. Meaning, I can give notice earlier, right?? Come on! I am disgruntled.
Here is a link to the full CBCA Certificate of Arrangement:
Please refer to section 2.7(a) & (b) relating to the redemption at the option of the holder.
"On and after December 31, 2012, upon at least 30 days notice, a holder of Series 1 Shares may require YPG Holdings to redeem such Series 1 Shares for a cash price of $25.00 per Series 1 Share, together with any accrued and unpaid dividends to but excluding the date fixed for redemption."