Do i understand correctly..MBAC Brazil Holdings BV issued 39,837,271 new shares to round out the book value of the shareholder equity and the number of shares to 1 share = 1 real. A new company is formed called
Itafs MINING SA in which MBAC Brazil Holdings BV (and by exension all of us) will hold 344,941,685 "common nominative shares with no par value of the Company, attributed to shareholders in proportion to their current and respective interests" - again with a book value of 1 share = 1 real. In so doing they got another $10 million or so to do.... what?? re-start operations??
My questions:
1) What does "common nominative shares with no par value of the Company, attributed to shareholders in proportion to their current and respective interests the Company's capital stock" mean?
2) How do I redeem my shares?
3) Who is leading the new company Itafs MINING SA? the old management? (shudder)