Dual Class Shares - SolutionThere are about 314M Class A multiple voting shares (10 votes) & the family own approx 266M.
There are about 1932M Class B single voting shares.
Total vote count 314 x 10 + 1932 x 1 = 5072
Family vote count = 266 x 10 =2660 or +/- 52%. ( Its actually higher as they also own some B shares.)
What Bombarier & we the shareholders need is a single class of shares, all having 1 vote.
I propose that the A shares be converted into B shares at an exchange rate of 2 for 1,.
We would then have one class of shares with about 314 x 2 + 1932 = 2560M shares.
Not a major dilution as far as the B's go.
The family would have 266 x 2 =512M shares or 20%of the company.
This still gives them control but allows other major investors to possibly buy into the company & have a significant voting participartion.
Stock price would go up sustantially and be good for all Class B shareholdrs.
Family should be happy as they would have twice the number of shares and thus twice the value, plus any increase in share price.
Take this to the Board and see how far it gets.
We need o get the dual structure fixed.