Sears Holdings Corp. (fka SHLDQ)

[justthefactsmam]

potential roadmap of sorts:

Am not attempting to make any comparative similarities between parker drilling and shc. The following is provided to give a flavor of what the process might look like if esl prevails, commons are not wiped out, a por is approved, and how it is implemented.

Notice the mechanics contained in the last paragraph: existing common shares are cancelled and if no further force and effect and each holder of the cancelled shares will receive a pro rata amount of new shares, subject to dilution.

Again, NO COMPARISON OR EQUIVALENCE being made, just info as to how the shldq case may move forward.

Also for those who want to dig deeper, please note the por was approved yesterday but today the company is still trading with the “q” symbol as pkdsq

https://cases.primeclerk.com/parkerdrilling/Home-Index

The following dates are hereby established (subject to modification, as necessary)
with respect to the solicitation of votes to accept, and voting on, the Plan and confirming the Plan
(all times prevailing Central Time):
Event Date
Voting Record Date January 22, 2019 (or the date that is the first day
of the Disclosure Statement Hearing)
Solicitation Distribution Deadline January 25, 2019
Publication Deadline January 28, 2019
Voting Deadline February 22, 2019
Confirmation Objection Deadline February 22, 2019
Deadline to File Confirmation Brief February 28, 2019, at 4:00 p.m., prevailing
Central Time
Deadline to File Voting Report February 28, 2019, at 4:00 p.m., prevailing
Central Time

Existing Common Interests On the Effective Date, each Existing Common Interest in Parker shall be canceled and shall be of no further force and effect. Each Holder thereof shall receive its Pro Rata share of: (i) 1.65% of the New Common Stock, subject to dilution by New Common Stock issued in connection with the Management Incentive Plan, the Rights Offering, the Put Option Equity Premium, and the exercise of the New Warrants; (ii) the Existing Common Stockholder Subscription Rights; and (iii) 60.0% of the New Warrants