RE:RE:RE:Thanks Natural#3 Scenario: Payout = US$750M, distribution as per the following:
a. $150M to Notes, Loan, Indemnity
b. $460M to CVR + MIP (as per waterfall - lesser of (i) $460MM and (ii) max entitlement of claim proceed (90%) after deducting (a)
c. $30M to the company, I am assuming shareholders
d. $110M to CVR + MIP (as per waterfall, upto the max, which is $600MM: 90% of $750M-$150MM in this case)
Nothing left after this. So US$30M to the company / shareholders in (c) divided by 107M shares outstanding and then using the current exchange rate you get CA$0.38/share.