"akg001, I really think you are jumping at shadows with statements like that last line. Are you seriously implying that people would simply lose their holding in such a case?"
In such a case, those CDI holders, who for some reasons cannot convert their CDIs to NewCo shares, will have to sell their CDIs. They will realise too late that they have lost their right to participate in the grander scheme. And they will have no legal standing to seek redress for their miserable fate.
That is the danger of having to have CDI in this case. It is no less than giving away your perpetual right over the current assets and the new combined assets.
In this case, since we currently have that perpetual right over the current assets, then accepting to be CDI holders means giving away that perpetual right. That is much much worse than just losing the right to vote directly.
I hope you and everyone would think this legal matter carefully. This can destroy the sweet dreams of those who plan to hold long term.
AKE Price at posting:
$8.78 Sentiment: None Disclosure: Held
