Pilgrim's Pride Corp (PPC)

[sfinksi]

The following is extracted from the proxy package received by mail:

SCF = (0.36 x NNS) / NES
where:
NNS = The number of shares necessary to cause SCF to be 1, or such other number of shares agreed in writing by the parties.
It is currently anticipated that 214,281,636 shares of New PPC Common Stock will be issued on the Effective Date, although the Debtors may revise this number prior to the Effective Date.
NES = The total number of Existing Shares
SCF = Share Conversion Factor

Seems like the ratio 3 to 1 mentioned earlier is OK, unless smb can explain this formula otherwise.