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Gold/Mining/Energy : Air Canada -- Ignore unavailable to you. Want to Upgrade?

To: Imran who wrote (2)	8/23/2004 9:15:29 PM
From: Nikku Nayar	Respond to of 6

Hello Thanks for the replies - yes, I got the news about the dilution a few days ago. Mom and Pop can't be happy about this news, but in order to pacify the creditors who will apparently get less than $0.10/dollar for their claims, it was evidently necessary. I wonder how they determine the price at which the new shares will trade - will these shares be issued through an investment bank like a normal share issue, one in which the bank gets cheap shares which they can sell into the market? If so, it would be an additional kick in the teeth for small shareholders.