RE:RE:Dividends and exchangeable sharesThanks GMAN.
I disagree with you about the relevance, as I understand it the exchangeables are expected to trade for 5 years on the TSX. The dividend could be quite substantial. Would hate to miss out on it if I end up holding my shares longer term.
Here are a few excerpts from the information circular:
(e) Jackpotjoy is a holding company and substantially all of its operations will be conducted through its subsidiaries – its ability to pay dividends on the
Jackpotjoy Shares will depend on its ability to obtain cash
dividends and other cash payments or obtain loans from
the Jackpotjoy UK Group’s subsidiaries; (f) Exchangeable Shareholders are not expected to receive Distributions;
The holders of AmalCo Class A Shares are also entitled to receive such Distributions as and when declared by the
AmalCo Board out of assets of AmalCo properly applicable to the payment of dividends. However, these rights are
expressly subject to the prior rights of the Exchangeable Shareholders with respect to priority in the payment of
Distributions to the extent that any Distributions have been declared and not paid on the Exchangeable Shares. Jackpotjoy will also agree to notify AmalCo of any Distributions declared and paid on the Jackpotjoy Shares in
order to permit the AmalCo Board to make the determinations with respect to the economic equivalent of such
Distributions for inclusion in the Economic Equivalence Payment that will be made on the exchange of the
Exchangeable Shares and to support the making of certain other issuances and distributions by AmalCo in certain
circumstances. See “–
Jackpotjoy Dividends etc. and Economic Equivalence
”.