The Holder Class
We are pleased to announce that the Company consummated the Settlement Merger on January 15, 2016 (the “Effective Date”). Per the Settlement Agreement, eligible investors who held Preferred Stock as of August 22, 2014 (excluding Defendants and their affiliates) and continue to hold through January 15, 2016, will receive $26 per share plus any residual from the Net Seller Class Settlement Fund on a pro rata basis. The Holder Class Settlement represents a total recovery of at least $62 million. The Company’s Exchange Agent, Computershare N.A., will commence mailing the Letters of Transmittal to registered holders by the end of this week. If you own the Preferred Stock through a brokerage account, then your brokerage firm may be the “registered holder”. If this is the case, the Letter of Transmittal will not be directed to you, but to your brokerage firm. The Letter must be filled out and returned to the Exchange Agent with the physical stock certificates attached. If the physical certificates are lost or destroyed, then please follow the instructions in the Letter of Transmittal. There is no deadline for returning the Letter of Transmittal, but a delay in returning the Letter will delay receipt of the Settlement Merger consideration. If you would like to see a copy of a generic Letter of Transmittal, you may request one from Catherine Pratsinakis at cp@chimicles.com. However, please note that you or your broker must return the actual Letter of Transmittal received by either you or your broker because it contains specific information and a unique code needed to process the request. If you return a generic Letter of Transmittal, the Exchange Agent will reject it. If you or your broker do not receive your Letter of Transmittal by February 5, 2016, or the Letter was lost or destroyed, the registered holder may request a copy from the Exchange Agent at (855)396-2084.
