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First Uranium Corporation T.FIU



TSX:FIU - Post by User

Comment by colt451on Mar 05, 2012 3:12pm
268 Views
Post# 19628600

RE: what it worth

RE: what it worth

According to the NR it seems like the 36.6 mil is the first payout, the 25.4 the second, and then there's a third, if you look closly it says "in addition" which would point toward assets beyond the principal assets i.e. EZ and MWS being liquidated and distributed to shareholders. MWS and EZ and the principal assets, they are not the only assets however. 

 

 

"The company expects to make initial payments to security holders from the proceeds received on the closing of the transactions, after deducting approximately $23 million in operating and transaction related costs. Note holders will receive $167.7 million, debentures holders $147.7 million and shareholders $36.6 million.

The balance of the funds held in escrow will be disbursed following the release of the Escrows. Assuming no claims are made, the amount available for distribution will be $30 million which the company intends to distribute as soon as legally permissible. Debenture holders will receive $4.6 million and shareholders $25.4 million.

In addition to seeking shareholder approvals for the transactions at the special meeting, the company intends to pursue an amalgamation, arrangement, discontinuance, dissolution, liquidation, winding-up or other reorganisation of the company or its share capital and to distribute to shareholders all remaining property of the company."

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