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Post# of 989
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Steady_T

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Steady_T

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Re: Lone Wolf post# 689

Sunday, 11/27/2016 2:59:54 AM

Sunday, November 27, 2016 2:59:54 AM

Post# of 989
Not a problem at all.

The BK reorg plan shows that the existing equity share will be cancelled and new equity shares will be issued immediately afterwards. So there will always be shares to trade and be listed. That is why the NYSE will continue to list BAS, probably under a new symbol.

The ownership of those new shares will be very different than the ownership of the old shares.

The two ideas are not inconsistent with each other.

This link is to the prepackaged bankruptcy filing that the court is acting on. I suggest all BAS investors take the time to read through it. It's your money and this document describes what is going to happen to it.

http://basicenergyservices.com/images/pdf/Project-Sierra-Final-Version-Chapter-11-Plan-10_24_16.pdf

"Wise men talk because they have something to say, fools because they have to say something."
PLATO

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