Pro Rata Payment

The purpose of this section of the website is to help you understand why you may not receive 100% payout of your Maximum Entitlement as calculated on your Claim Form and the Pro Rata Distribution payment you will receive.

Pursuant to the Court Approved Plan of Allocation:

    CALCULATION OF THE DISTRIBUTION AND MAXIMUM ENTITLEMENT
  1. 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;
  2. 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";
  3. 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;
  4. In no event shall an Authorized Claimant receive a Distribution greater than his/her/its Maximum Entitlement;
  5. 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.

Class or Class Members means:

  1. "Primary Market Sub-Class": all persons and entities, wherever they may reside or may be domiciled, other than Excluded Persons, who, during the Class Period, purchased TSGI's securities in an Offering and held all or some of those securities until at least March 23, 2016;
  2. "Secondary Market Sub-Class": all persons and entities, wherever they may reside or may be domiciled, other than Excluded Persons, who, during the Class Period, purchased TSGI's securities in the secondary market and held all or some of those securities until at least March 23, 2016, and who:
    • are residents in Canada or were residents in Canada at the time of such acquisitions regardless of the location of the exchange on which they purchased TSGI's securities; or
    • purchased TSGI's securities in the secondary market in Canada or elsewhere, other than in the United States.

Authorized Claimant means any Class Member who has been approved for compensation by the Administrator.

Claimant means a Class Member who submitted a properly completed Claim Form and all required supporting documentation to the Administrator in the online claims administration portal, on or before the Claims Bar Deadline;

Compensation Fund means the Settlement Amount less Class Counsel Fees, Administration Expenses and other expenses decided by the Court, as allocated between the Primary Market Sub-Class and Secondary Market Sub-Class;

Distribution means payment to Authorized Claimants in accordance with this Plan of Allocation, the Agreement and any order of the Court;

Distribution List means a list containing the name and address of each Authorized Claimant, the calculation of his/her/its net loss and the calculation of the Authorized Claimant's pro rata share of the Compensation Fund;

Eligible Securities means TSGI's securities held by the Class Members that are the basis for inclusion in the Primary Market Sub-Class or Secondary Market Sub-Class, as determined using the LIFO method of calculation.

Maximum Entitlement means an Authorized Claimant's actual loss on Eligible Securities, as calculated pursuant to the formula set forth in section 7 herein;

Pro Rata Distribution means 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.