TSX:HSE.PR.B - Post by User
Post by
RagingBull3on Oct 26, 2020 7:12am
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Post# 31780149
Preferred's Terms Require Them To Be Redeemed for $25
Preferred's Terms Require Them To Be Redeemed for $25"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."
It not what you call this deal (buyout, merger/partnership, get together...etc) that determines what this deal is......... It's what it does (is) that determines what this deal is.
Husky will no longer exist. It will no longer have any affairs. Effectively it is winding up its affairs. Husky is being sold to Cenovus. Proceeds to shareholders are shares of Cenovus instead of Cash.
Bottom line, Husky will no longer exist. It will no longer have any affairs.
Terms of the Preferreds are being Broken.
All just my Opinion on how I read the Terms....
I'm tired of all this BS.... This is not a merger, it's not a partnership, it's a buyout. Husky will no longer exist.
BS.... is what got us into this mess with Covid-19..... over 6 months of BS on MASKS,
Anyways, I know $25 is not going to happen, I just had to state my opinion and get it off my chest.