Replies to post #332 on Key Energy Services Inc. (KEGX)

[Mcgill]

You should do what's best for you, others know what's best for them.

[Liam_S]

The current plan provides that only ALLOWED existing equity interest will be entitled to recoveries allocated to equity under the plan.

It goes further to define ALLOWED as any "claim or interest arising before the effective date", which according to the plan is a date to be selected in the future - this date usually occurs after the judge has approved the plan of reorganization. The hearing for approval is currently set as Dec. 6.

The definitions of "allowed" and "effective date" are contained in doc #18 filed on 10/24

So here's what to do if you haven't received the election form - contact your broker and ask them to send one to you. A lot of the shares are held in street name and KEY simply sent out these forms to the brokerage houses for onward transmission to their clients. Obviously some brokerage houses are more efficient than others at disseminating this type of information.

What happens if you did not receive and turn in an election form?

This only means you don't get the cash option. You will still get the equity and warrants, if you're still a holder at the effective date. The election form is for you to simply indicate that you want cash in lieu of equity and warrants, and to grant releases.

Shareholders who don't turn in an election form will automatically be deemed to have granted all releases, and will be entitled to the plan distribution (warrants and shares only, but not cash), if they are still holding as of the effective date.