Yellow Pages Ltd T.Y

Alternate Symbol(s): YLWDF

Communication Services

Yellow Pages Limited is a Canadian digital media and marketing company. The Company offers targeted tools to local businesses, national brands and consumers, allowing them to interact and transact within the digital economy. It offers small and medium-sized enterprises (SMEs) across Canada full-serve access to a comprehensive suite of digital and traditional marketing solutions, such as online and mobile priority placement on its digital media properties, content syndication, search engine solutions, Website fulfillment, social media campaign management, digital display advertising, video production, e-commerce solutions, as well as print advertising. Its media properties, primarily desktop, mobile and print, continue to serve as effective marketplaces for Canadian local merchants, brands and consumers. The Company holds local online properties, including YP.ca, Canada411 and 411.ca. It also holds the YP, Canada411 and 411 mobile applications and Yellow Pages print directories.

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Yellow Pages Ltd

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Comment by AcklynDon Feb 14, 2020 2:27pm

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Post# 30692965

RE:the warrants and the debentures

DoubleIndemnity; refer to the December 10, 2012 release for the recapitalization. The receivers of the debentures were the previous unsecured credit facility holders (18.1 million par), the medium term note holders (81.9 million), and previous unsecured debenture holders (7.5 million). You must have had a small amount of Yellow debt in the past.

Warrants were distributed to previous debentureholders (484,487), preferred shareholders (1,045,509) and common shareholders (1,465,513).

Nothing prevents them from doing an open market purchase of the debentures but at 105 I do not believe it is that economical compared to the other option of waiting until May 31, 2021. Of course if the stock is trading well above $20.94 (110% of $19.04) then we'll see an early redemption. Based off of today's trading action I'm not holding my breath!!

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