Husky Energy Inc. cumulative redeemable preferred T.HSE.PR.B

RE:Rights on Liquidation, Dissolution, Winding-up...$25?

[RagingBull3]

RagingBull3 wrote: "In the event of the liquidation, dissolution or winding-up of Husky or any other distribution of assets of Husky among its shareholders for the purpose of winding up its affairs, the holders of the Series 3 Preferred Shares shall be entitled to receive $25.00 per Series 3 Preferred Share plus all accrued and unpaid dividends thereon (less any tax required to be deducted and withheld by Husky) before any amount shall be paid or any property or assets of Husky shall be distributed to the holders of Husky’s common shares or to the holders of any other shares ranking junior to the Series 3 Preferred Shares in any respect. After payment to the holders of the Series 3 Preferred Shares of the amount so payable to them, they shall not, as such, be entitled to share in any further distribution of the property or assets of Husky."

I have assumed that the above would mean if Husky is taken private (dissolution/winding-up of Public Corporation), Preferred Shareholders would get $25 per share.

Husky Energy INC. will no longer exist if taken Private.  I consider that Dissolution or Winding-up.  

As Far as I'm aware, there is NO PROVISION of converting/rolling the Preferred Shares into another company Private or Public.