RE: RE: Preferred A Legal Claim..?
Here is the response I got from the YLO transfer agent. I don 't see how they can make this statement until the judge makes the final decision
We thank you for your recent inquiry.
Please be advised of the recent information which was recently made available:
Retraction Privilege (scheduled to commence December 31st, 2012) no longer valid.
Participants of CDS & Co. are advised that due to the settlement being reached with the lenders under its senior unsecured credit facility who were opposing the Company's proposed recapitalization, the Recapitalization of Yellow Media Inc. is expected to be implemented and become effective on December 20th, 2012.
As a result, the retraction privilege afforded to holders of Yellow Media Inc. Cumulative Redeemable First Preferred Shares Series 1 is no longer valid.
Additional information may be found at the following website:
https://www.ypg.com/en/newsroom/594-yellow-media-reaches-settlement-with-its-lenders-and-amends-proposed-recapitalization
As taken from the above URL:
" As a result of the Recapitalization becoming effective, the Company will not redeem any existing cumulative redeemable first preferred shares, series 1 that have been or may be tendered for redemption by holders in accordance with the terms of such preferred shares beginning as of December 31, 2012, and will therefore not pay any retraction price nor any accrued and unpaid dividends in respect thereof. Pursuant to the Recapitalization, the holders of all of Yellow Media's existing preferred shares, other than the preferred shares, series 7, will be entitled to receive the same consideration (as described above) in exchange for each preferred share and all related entitlements."
Should you have any other questions or require further information from us, please contact our office by phone at the toll free number 1-800-387-0825 or by e-mail at inquiries@canstockta.com.