RE:RE:RE:RE:Just got off the telephoneTHANK YOU autofucus111. I'm unclear as to exactly what you suggest to do. I understand you say NOT to dissent. What I'm not clear on is are you saying to vote to convert to Cenovus Shares?
What happens if I do nothing? That was what I was thinking to do as I was actually thinking exactly what you were saying, and thinking by participating voting/dissenting this will void my current rights under the Terms of Preferreds, ie $25/share.
Again, Thank You. I fully believe in what you are saying. It's sicking how things are dragged out.
Several years ago I saw on the news how some guy drove a van down the sidewalk on Yonge Street in Toronto for several blocks, killing many people on purpose. He was caught by the police in the act. He just made his first court appearence a last week or so..... pleaded not guilty! Just sickening how things are dragged out.
Again, thanks, and can you clearify what you think I should do. What do you think will happen if I do nothing. I mention long ago in a post that I planned to do this maybe.
autofocus111 wrote: RagingB I advise not to exercise dissent rights. You will have to surrender your shares in exchange for the right to receive 'fair value' and you will automatically join the dissenting group and will have to wait out a court process to determine what the fair value is. I tried this once just out of curiosity with BIM.T when MT bought out the company. Got lots of court documents and updates, but almost a decade later the matter has still not been setttled, and I have yet to receive any payment for the shares I surrendered. Those who instead tendered shares got the buyout proceeds, then years later participated in a class action that ran through the courts and was settled last year and got an additional payment. Dissenting is a painful process with no obvious victory, as the company lawyers will drag it out in the courts for years, leaving you stuck with no money in the meantime. Oh, and if you do want to speed things up, you have to organize with other dissenters and pay lawyers to move the case forward and make arguments as to what fair value is.