This website was updated September 18, 2023

The claims administration is now closed, and all cheques must have been cashed by August 15, 2023.

Dear Class Members,

All Authorized Claimants are to receive a Pro Rata Payment of their Maximum Entitlement. Authorized Claimants WILL NOT receive their Maximum Entitlement pursuant to their Claim.

The Distribution to each Authorized Claimant will be calculated by the Administrator by allocating the Compensation Fund to the Primary and Secondary Markets and then by dividing the Compensation Fund in each sub-class by the total number of Eligible Securities for all Authorized Claimants in each Sub-Class to arrive at a per Eligible Security distribution amount defined herein as the “Pro Rata Distribution”; The Administrator will then multiply the Pro Rata Distribution by the number of Eligible Securities held by an Authorized Claimant to arrive at the Distribution to be paid to each Authorized Claimant. The total amount of the Compensation Fund for this Distribution equaled $20,212,518.13.

Pursuant to the Plan of Allocation:

“Maximum Entitlement” means an Authorized Claimant’s actual loss on Eligible Securities, as calculated pursuant to the formula set forth in section 7 of the Plan of Allocation.

The Maximum Entitlement shall be calculated as follows:

1. For Eligible Securities disposed of on or before April 6, 2016, the difference between the average price paid for those Eligible Securities (including any commissions paid in respect thereof) and the price received upon the disposition of those Eligible Securities (without deducting any commissions paid in respect of the disposition), multiplied by the number of the Eligible Securities;
2. For Eligible Securities not disposed of on or before April 6, 2016, the lesser of:
   1. An amount equal to the difference between the average price paid for those Eligible Securities (including any commissions paid in respect thereof) and the price received upon the disposition of those Eligible Securities (without deducting any commissions paid in respect of the disposition); and
   2. An amount equal to the number of Eligible Securities disposed of by an Authorized Claimant, multiplied by the difference between the average price paid for those Eligible Securities (including any commissions paid in respect thereof determined on a per security basis) and the ten-day volume-weighted average trading price for those Eligible Securities following March 23, 2016.

Calculation of the Distribution of the Maximum Entitlement

The Distribution to Primary Market Sub-Class Authorized Claimants will be capped at CDN $2,500,000, minus the pro rata payment of Class Counsel Fees and Administration Expenses. Any remainder after the Primary Market Authorized Claimants have been paid, or if no such payment is effected, will revert to and be paid to Secondary Market Sub-Class Authorized Claimants;

The Distribution to each Authorized Claimant will be calculated by the Administrator by allocating the Compensation Fund to the Primary and Secondary Markets and then by dividing the Compensation Fund in each sub-class by the total number of Eligible Securities for all Authorized Claimants in each Sub-Class to arrive at a per Eligible Security distribution amount defined herein as the “Pro Rata Distribution”;

The Administrator will then multiply the Pro Rata Distribution by the number of Eligible Securities held by an Authorized Claimant to arrive at the Distribution to be paid to each Authorized Claimant;

In no event shall an Authorized Claimant receive a Distribution greater than his/her/its Maximum Entitlement.

Each Authorized Claimant whose name appears on the Distribution List shall comply with any condition precedent to Distribution that the Court may impose.

It is important that Class Members and Claimants check the website: https://www.amayasecuritiessettlementcanada.com and/or log into the online claims administration portal at https://www.amayasecuritiessettlementcanada.com/portal regarding the claims administration and their individual Claim.