TGL WHAAAAAAAT! Alerts, thoughts, discussion. Message Board

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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.

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To: Postman who wrote (122399)	11/10/2003 12:00:05 AM
From: Jim Bishop	Read Replies (1) of 150070

Air Canada chooses Victor Li as new equity investor Saturday November 8, 11:26 pm ET MONTREAL, Nov 8 (Reuters) - Air Canada said on Saturday that it had chosen a group led by Victor T.K. Li to invest C$650 million ($485 million) in the insolvent airline under an agreement that would see the value held by existing shareholders wiped out. Air Canada, which has been under bankruptcy protection since April 1, said Li's investment would account for 31 percent of the equity in a restructured version of the Montreal-based carrier. Creditors with total claims of C$8 billion to C$10 billion would end up with about 56 percent of the equity in the restructured airline, while existing shareholders will receive a nominal 0.01 percent stake, the airline said. ($1=$1.34 Canadian)

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