Agreed and exactly what I said last night in the below post. And chico says I'm making things up, all the math is there. I also never said we would get a dividend. I said our company VTGDF is receiving a dividend of 26.2 mil dollars.
"VDI is VTGGF. VTGGF is made up of 4.4 mil stapled securities and 5 mil ordinary shares of VDI aka VTGGF. The filings and news releases confirm this.
The difference between 5 mil and 4.4 mil there is the 655k that VDC (aka VTGDF) owns. Our shares do not have any stapled attachments with them.
The news release states VTGGF aka VDI is issuing 8 mil new shares to satisfy all notes and the stapled securities, leaving a new outstanding balance of ordinary shares at 13 million. This is for VDI aka VTGGF. VTGGF currently has 5 mil outstanding ordinary shares, and after dec 3rd they will have 13 mil outstanding ordinary shares. No new stock symbol, same company, just adding 8 mil shares to it.
Then on Dec 10th there will be a $40 dividend issued to each of the 13 million outstanding (ordinary shares) of VTGGF. We now own 655k shares and that is what we will own after the Dec 3rd conversion. So we will be getting $40 x 655,000 = apprx $26 million in dividends.
Whether we (the legacy shareholders) will get that $26 mil in a dividend from VTGDF, it is possible, but I don't know. VTGDF is still in liquidation (4 years now), but the thought is, that this is what they have been waiting for to close it up. This will prompt the final payout to legacy shareholders.
All debts of VTGDF were transferred to VTGGF in 2016. Common shareholders of VTGDF are the only one's with any claims left in the bankruptcy process, and we may be looking at a very nice buyout. Our equity (655k shares) in VTGGF is worth at least $61 mil. We have a receivable from VTGGF worth $17 mil. And we are receiving a dividend of $26 mil.
Add that altogether and we have $104 mil in assets vs some lawyer fees in liabilities.
So common shareholders of VTGDF should be due for at least a $0.33 buyout per share ($104 mil assets / 311 mil OS) in my opinion :)."
