RE: RE: RE: The Vote I believe uograd stated "being paid out for miscellaneous costs such as severance and director packages."
The $25.2 million is "Transaction costs" Check out pages 20. 112 & 113 of the circular.
The pro forma net debt calculation incorporates estimated cash proceeds from the Elbow River Transaction of $80 million and estimated transaction costs of theArrangement of $25.2 million (which includes executive severance and termination payments - see "Interests of Certain Persons or Companies in the Matters to be Acted Upon" in this Information Circular) and excludes risk management assets and liabilities as of the Effective Date.
Other places( pgs 41, 51 & 60) in the circulars lists maximum transaction costs of $7.5M for AVF, $15.2M for PCE & $2.6M for CHX.