Chemtura Corp (fka CHMT)

[PeterS237]

I was just running through the Q&A of the form.

Q:How many rights am I receiving?

A: You are receiving one right for every 32.9383 shares of common stock that you own. No eligible holder, however, will be granted or allowed to exercise any fractional rights.

This is clear, we can change each 32.9383 security for one new one, valued at 13 something $.

But the following ???????????????

Q: What will happen to the common stock I currently own?

A: All holders of common stock will have those shares cancelled and be of no further force or effect as of the effective date of our Plan.


Does this mean the old stock will completely become obsolete afterwards.

So you have to do this (or sell off course if you want out) if you want to continue the game.

Can someone clarify if I'm right with this.

And what about the voting on the POR. If this gets rejected, what then ????? Will they retract the offer?