RE:RE:I don't understand the concern about this retraction rightelonmuskrat247 wrote: Special Redemption Right Following any exercise of the Recurring Special Retraction Right, the Company shall have the right to redeem, on a pro rata basis, as at November 30 of the year in which the Recurring Special Retraction Right is exercised, such number of Preferred Shares (if more Class A Shares than Preferred Shares are tendered for redemption upon any exercise of the Recurring Special Retraction Right) or such number of Class A Shares (if more Preferred Shares than Class A Shares are tendered for redemption upon any exercise of the Recurring Special Retraction Right) as is required to achieve an equality in the number of outstanding Preferred Shares and Class A Shares (the “Special Redemption Right”)
Yes they need to deal with the number of preferred shares having to match the number of common shares... was not sure how this could be corrected tho if a large number of commons are retracted. It would likely end up in some kind of a consolidation.. but that usually is not as painful as some are suggesting.