EMAIL TO STEPHEN TAKACSY Hello Stephen !
Thank you for your update, although several minority shareholders may not get to know that it was a proposed $4 figure initiated by LA PRESSE reporter.
My message to minority shareholders is :
DONT PANIC AT $4
Out of the $393M shareholders equity or $9.10/(class A and B shares combined), reported on latest Q4, class B shareholders equity stands at $354M.
There are 4,320,000 class A shares. 4,318,512 are owned by QMI and the remaining 1,488 owned by someone else.
So 4,320,000 class A shares X $9.10 = $39M
$393M minus $39.3M = $354M.
There are 38,885,883 class B shares. QMI owns 64.86% or 25,220,852 shares, while minorities own 35.14% or 13,664,683 shares.
Therefore 13 664 683 "minorities" Class B shares X $9,10/per share (based on the total 43,205,535 TVA Group class A/B shares) referring to the $393M Q4 shareholders equity stated above, gives minority shareholders a portion $124.3M. 13 664 683 X $9.10/share = $124.3M
If you divide $124.3M by 2, just to slice the pie halfway, you get $62.15M
$62.15M divided by 13 664 683 "minorities" class B shares = $4.54/ share, "a very minimal decent price".
If QUEBECOR dares to steal a $4 deal, it will have been disloyal to minority shareholders by claiming for so many years of its committments to create shareholders value. I strongly hope, for the sake of all minority shareholders, that some backlash will take place in pushing for a fair outcome should Quebecor offer a selfish $4.
I wont disturb you further, but if you happen to talk with investors or even the people at Quebecor/TVA, you may please tell them know of the above.
Sincerely,
Max Fisher