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they're giving us 5%

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Handyman4545   Friday, 12/09/16 10:20:02 AM
Re: Psychodave7 post# 2045
Post # of 2091 
they're giving us 5%

Where'd you get that from?
The restructuring agreement I read says;

- - - - - - - - -
"Existing Equity:
The pre-Transaction holders of Rubicon Common Shares shall retain 5% of the equity of Rubicon upon implementation of the Plan (subject to dilution resulting from the issuance of any Rubicon Common Shares, options or other rights pursuant to the Management Incentive Plan, as contemplated herein)."

- - - - - - - - -

My interpretation here is merely that after the issuance of the additional shares to CPPIB (29% outstanding equity interest) and Royal Gold (6% OEI), existing share holders will be reduced to 5% OEI ownership in the company.
Rubicon will hold 60% OEI and unsecured creditors will lose some money in exchange for considerations listed in the agreement.

- - - - - - - - -
Issuance of Shares:
The issuance of new shares as set out in this Term Sheet...
The issuance of new shares as set out in this Term Sheet shall be subject to dilution resulting from the issuance of any Rubicon Common Shares...

- - - - - - - - -

I don't see anything in there about losing stock nor do I see anything in there about stock dissolution or a re-naming of the stock.

- - - - - - - - -
Listing and Trading:
Rubicon shall remain a public company following the implementation of the Plan and the Rubicon Common Shares shall be publicly listed for trading on the Toronto Stock Exchange (“TSX”) or the TSX Venture Exchange.

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What I'm wondering about now is when the new stock values will kick in.

http://s1.q4cdn.com/385694504/files/docs/Restructuring-Term-Sheet.pdf

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