Guest blizzard Posted April 4, 2003 Share Posted April 4, 2003 I have a questions about the shares that were purchased through ESOP in 2002 and were due to have AC add their contribution in May. Since these shares were purchased last year and AC would have known what the liability was before the CCAA filing - what happens to that money that AC was supposed to kick in? Is it considered the same as salary, and therefore will be paid no matter? Is it considered debt and subject to the same conditions as other creditors? Or is it considered stock or something else and can be arbitrarily cancelled due to CCAA? Trying to figure out if I should cash out non-vested shares or if there is a chance that I will get some additional cash if I wait. Link to comment Share on other sites More sharing options...
Guest GDR Posted April 4, 2003 Share Posted April 4, 2003 Check the Q&A section on the restructuring section on the AERONET site. The program is cancelled. All the shares are equal now and as everyone has posted are highly speculative. Sorry Link to comment Share on other sites More sharing options...
Guest blizzard Posted April 4, 2003 Share Posted April 4, 2003 Received the official company word as part of Restructuring Bulletin #1. Q8. What will happen with the 2002 Company match scheduled for June 1, 2003? Unfortunately, we do not have an answer at this time. The same applies with the 2003 Company match, scheduled for June 1, 2004. Link to comment Share on other sites More sharing options...
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