CALCULATION OF THE DISTRIBUTION AND MAXIMUM ENTITLEMENT

  • The Administrator will allocate 30% of the Compensation Fund to Authorized Claims in respect of Qualified Shares (September Disclosure) to create the Compensation Fund (September Disclosure). The Administrator will then allocate 70% of the Compensation Fund to Authorized Claims in respect of Qualified Shares (November Disclosure) to create the Compensation Fund (November Disclosure).
  • The Administrator will allocate all the Authorized Claims into these two Categories (i.e., September Disclosure and November Disclosure) depending on when Authorized Claimants purchased Qualified Shares.
  • Based upon each Authorized Claimant’s Maximum Entitlement within each Category, they will receive their pro rata distribution based on the Total Damages in each Category. This will be done first by dividing the Compensation Fund (September Disclosure) by the Total Damages (September Disclosure) to calculate a percentage recovery per dollar lost defined herein as the “Pro Rata Distribution (September Disclosure)”, and by dividing the Compensation Fund (November Disclosure) by the Total Damages (November Disclosure) to calculate a percentage recovery per dollar lost defined herein as the “Pro Rata Distribution (November Disclosure)”.
  • The Administrator will then multiply the Pro Rata Distribution (September Disclosure) by each Authorized Claimant’s Maximum Entitlement (September Disclosure) to arrive at the Distribution (September Disclosure) to be paid to each Authorized Claimant in that Category, and multiply the Pro Rata Distribution (November Disclosure) by each Authorized Claimant’s Maximum Entitlement (November Disclosure) to arrive at the Distribution (November Disclosure) to be paid to each Authorized Claimant in that Category.
  • In no event shall an Authorized Claimant receive a Distribution greater than his/her/its Maximum Entitlement (September Disclosure), or his/her/its Maximum Entitlement (November Disclosure).
  • If a Claimant in either Category purchased their Qualified Shares for a price that is below what the Claimant sold them for (if sold within ten trading after February 6, 2019), or is deemed to have sold them for (if held after the close of trading on February 6, 2019 and not sold within ten trading days thereafter), such a Claimant will not be entitled to compensation from the Compensation Fund.

Maximum Entitlement (September Disclosure) and Maximum Entitlement (November Disclosure) shall be calculated as follows:

  1. For Qualified Shares disposed of on or before the 10th trading day after the public correction (released before market open on February 7, 2019), the difference between the price paid for each of those Qualified Shares (including any commissions paid in respect thereof) and the price received upon the disposition of those Qualified Shares (without deducting any commissions paid in respect of the disposition) on a LIFO basis;
  2. For Qualified Shares not disposed of after the 10th trading day after the public correction, an amount equal to the number of Qualified Shares disposed of by an Authorized Claimant, multiplied by the difference between the price paid for each of those Qualified Shares (including any commissions paid in respect thereof determined on a per security basis) and the ten-day volume-weighted average trading price for those Qualified Shares following the public correction.