ac share info

[Guest flyersclub]

msg to ac employees today re: shares

"What's happening with trading in Air Canada shares? Several employees were under the impression that Air Canada's shares were being delisted. That is not the case and Air Canada shares are still listed and do trade on the Toronto Stock Exchange. A few days ago, the S&P/TSX announced it would no longer be including Air Canada's shares (and those of some other companies) when calculating the S&P TSX Composite and mid-cap indexes (a standard measure used to say how well some key stocks perform in any given day). The S&P/TSX regularly looks at the stocks used in calculating their index, and makes changes depending on the volume and value of a specific company's shares. Many of you are still asking what will happen to Air Canada's shares during the restructuring. As we've said over the past few months, we plan to convert all outstanding debt and creditor?s claims into equity (shares). There are two ways for this to happen. In one scenario, completely new shares are issued and the old shares cancelled which means that the old shares become completely worthless. In the second case, there is a massive issuance of new shares which means that the old shares represent only a tiny portion of total shares and thus their economic value is greatly reduced. While the form of conversion has not yet been determined, in either case, typically old shares will lose all or most of their value."