This is from Zenith Docs on SEDAR.
In the event of the liquidation, dissolution or winding-up of Resverlogix, whether voluntary or involuntary, or any other return of capital or distribution of assets of Resverlogix among its shareholders for the purpose of winding up its affairs, the holders of the Royalty Preferred Shares are entitled to receive in respect of each such share, before any distribution of any part of the assets of Resverlogix among the holders of Common Shares or other shares of Resverlogix ranking junior to the Royalty Preferred Shares, an amount equal to the greater of $1.00 divided by the number of outstanding Royalty Preferred Shares and the amount of any accrued, but unpaid dividends.
Can any one explain what the bold statement means because I think they they should have said $1.00 multiplied by the number of shares. Correct me if I am wrong.
