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



TSX:HSE.PR.B - Post by User

Post by RagingBull3on Dec 15, 2020 2:53pm
262 Views
Post# 32110770

What's this 10% by Cenovus????

What's this 10% by Cenovus????"The Arrangement is not conditional on Husky Preferred Shareholder approval. However, the exchange of Husky Preferred Shares for Cenovus Preferred Shares under the Arrangement is subject to (1) approval of not less than 66% of the votes cast by Husky Preferred Shareholders' voting together as a single class at the Husky Meeting; and (2) unless otherwise determined by Cenovus in its sole discretion, holders of not more than 10% of the Husky Preferred Shares having validly exercised, and not withdrawn, dissent rights (collectively, the “Preferred Share Condition”). If the Preferred Share Condition is not satisfied prior to the effective time of the Arrangement, the Husky Preferred Shares will not be acquired by Cenovus pursuant to the Plan of Arrangement, will remain outstanding in a subsidiary of Cenovus following Closing, and will remain listed for trading on the TSX. If issued, the Cenovus Preferred Shares are expected to be listed on the TSX."

As I understand, about 49% of the Preferreds voted.   Of those that voted, about 97.8% vote for the arrangement.    So, there's over 50% that did not vote.   Did they Dissent? 

So, what's the situation for the Preferred Shares?   They will become Cenovus Preferreds or not?   


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