Niko Resources Ltd NKRSF

RE:Need help

[pigsoul]

stockuserid wrote: Base from NR dated Mar 15 (yesterday) from NKO website, on page 3 :

https://www.nikoresources.com/upload/news_release/394/01/niko_pressrelease_2016_03_14_corporateupdate_supportagreementsexecuted.pdf

I need help to explain the following :

Issuance of a preferred share to the Agent of the Lenders, with the following  terms:(i) one vote,  (ii)  the right to appoint up to two nominees to the Board, (iii) an annual preferential cumulative dividend, if declared by the Board, at the rate of 0.00001% per annum on the redemption price of $1.00, and (iv) distribution of capital of $1.00 in priority to the holders of The common shares  of the Company in the event of the liquidation, dissolution  or winding-up of the Company

Question  : Is Preferred share value to $1 per common share ?

Thanks in advance

hope u burn in hell fu$%%king pumper