Thanks for the heads-up KRY
" Gowlings fee is 9.0% of the "additional" amount recovered above and beyond what you would normallly receive from the award. Does not appear that we have to turn over our shares"
Well, this begs the question, how would Gowlings protect themselves for payment if they have no control over your shares somehow. How do they guarantee their payment? Sounds all and good if they are willing to take my word or sign an agreement. Have to read the fine print carefully.
Here is another point. Let's say of the 426M shareholders only about 100M shareholders commit to Gowling and they are sucessful in increasing the award to 20% does that mean the 100M shareholders split 20% of their commitment (less 9% of 4% increase) and the other 326M shareholders are stuck at 14%?
I also think the potential for Gowling to ask for 30% is reasonable because we as shareholders need $500M out of the $1.4B to break even. That is $1 per share. Hmmm, interesting and attractive.
I will give Gowling 9% over and above my expectation of about $48,000 at 40c per share now. Right now we are at approx $200M with a bit over 400M shares outstanding.
The other issue is maybe we need Gowling to prevent Fung taking out our remaining 14% away from us.
Looks like details are pending.
Good luck to all.
