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What's happening in CHC?

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What's happening in CHC?

Old 13th Mar 2017, 14:39
  #841 (permalink)  
 
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People who owned shares in the 'old' CHC will get no shares or money from the restructure.

I don't understand what you mean. I had 10,000 shares of HELI ( old CHC) in my portfolio. I now have 333 shares of HELIQ ( worth a whole $466 by the way)
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Old 13th Mar 2017, 15:01
  #842 (permalink)  
 
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Outwest,

HELIQ is the code for the old CHC under the stock exchange listing. The Q denotes it is under court supervision (Ch 11). Sorry to say but when CHC exits Ch 11 and becomes a private company again, those shares will cease to exist and you will get letters to that effect from CHC's lawyers.
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Old 13th Mar 2017, 20:20
  #843 (permalink)  
 
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Nowhere special. How come you onow so much. I have Helif shares and they are trading as we speak. spouting rubbish with no explanation just boils my blood.

I think you are confusing equity borrowing for share ownership. They are two different things. CHC owes me nothing. I just hold shares in a very low capitulated company.
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Old 13th Mar 2017, 20:46
  #844 (permalink)  
 
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DB - it trades but its an OTC stock (which means as a retail punter - i.e. the average Joe blow who isn't a professional - will struggle to get involved anyway) that said todays traded volume is circa 35k shares - or around $50k worth. Frankly if you own that name take whatever is worth and enjoy a dinner on it, but its done.

I don't disagree some of your sentiment re; the way the Co. has been run but I think part of aviations issue (all sectors) is a race to the bottom, margin erosion and maybe a feeling that very often everyone outside of the aircrew is a nob. That doesn't make for much of a business.

As for the EC225 may well be the finest helicopter ever but recent events can not have helped and the management of the various issues have been utterly dismal. However that said the relative collapse of the oil price has been the major driver in issues at CHC.
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Old 13th Mar 2017, 22:03
  #845 (permalink)  
 
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Originally Posted by DOUBLE BOGEY View Post
Nowhere special. How come you onow so much. I have Helif shares and they are trading as we speak. spouting rubbish with no explanation just boils my blood.

I think you are confusing equity borrowing for share ownership. They are two different things. CHC owes me nothing. I just hold shares in a very low capitulated company.
I think you'll find NWS knows his onions.

The SEC description is very similar to his:
https://www.sec.gov/fast-answers/answersqaddedhtm.html
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Old 13th Mar 2017, 22:59
  #846 (permalink)  
 
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I feel sorry for you DB

quote from CHC site:
http://www.chcheli.com/sites/default...ne_Release.pdf

 The Plan does not provide for any distribution to holders of the Company’s existing equity securities, including its ordinary shares and preferred shares. Following the effective date of the Plan, the Company will apply to the Registrar of Companies in the Cayman Islands for a voluntary striking off of the Company. Upon a striking off of the Company, the Company will be dissolved (subject to certain reinstatement rights of the holders of the existing equity) and the existing equity holders will receive no distribution.

SLB
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Old 14th Mar 2017, 00:24
  #847 (permalink)  
 
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Outwest,

HELIQ is the code for the old CHC under the stock exchange listing. The Q denotes it is under court supervision (Ch 11). Sorry to say but when CHC exits Ch 11 and becomes a private company again, those shares will cease to exist and you will get letters to that effect from CHC's lawyers.
So you are saying that if I want my $466 I need to sell them now before they exit CH 11, Or that I can't even sell them?
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Old 14th Mar 2017, 04:08
  #848 (permalink)  
 
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Meanwhile on the legal hot air front on what really keeps a helicopter airborne we have:

The proposed solution was for a subsidiary of CHC (who was owed money by CHC) to file a creditor's winding-up petition, followed by CHC's directors causing CHC to apply for RPL Proceedings.

https://www.maplesandcalder.com/news...ucturing-1444/
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Old 14th Mar 2017, 08:02
  #849 (permalink)  
 
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Outwest, give it a try. In not very long that option will not be available to you.
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Old 14th Mar 2017, 08:15
  #850 (permalink)  
 
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Outwest, give it a try. In not very long that option will not be available to you.
Thanks, I find it strange that shareholders would not be notified in advance that if they don't sell by a certain date the shares would be worthless. Not that $466 will make much difference.....
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Old 14th Mar 2017, 08:33
  #851 (permalink)  
 
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Good luck.
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Old 14th Mar 2017, 08:37
  #852 (permalink)  
 
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There of course is an element whereby you need to stay on top of the investment you've made. I assume you have a broker and the equity you own is held in a nominee account - in which case it's usual for the broker to give notification of any corporate actions.
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Old 14th Mar 2017, 08:38
  #853 (permalink)  
 
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Good luck
Indeed - in this case I think people have had at least 2 years warning even if you did nothing more sophisticated than read this thread.
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Old 14th Mar 2017, 08:48
  #854 (permalink)  
 
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Terrible news being reported on another thread. The loss of an Irish SAR S92. That is a CHC contract.
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Old 14th Mar 2017, 21:29
  #855 (permalink)  
 
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Worthless shares can have a value if somebody needs them, for example having sold short.
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Old 24th Mar 2017, 22:40
  #856 (permalink)  
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CHC have now officially exited CH 11.
Until the next time
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Old 25th Mar 2017, 07:06
  #857 (permalink)  
 
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Roundwego, I'm sure plenty of others will go through it before CHC does again. And many others would like to.
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Old 26th Mar 2017, 10:30
  #858 (permalink)  
 
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1 Billion plus debt Holders are now owners...Is that right?
Hope they all have a long term view on this Bad Boy!
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Old 22nd Sep 2017, 02:39
  #859 (permalink)  
 
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Originally Posted by Mitchaa View Post
Certainly is, and they could use some as they have been pretty quiet since exiting Ch11. Strange PR, to reference SAR expertise with the Irish thing still smarting and then Kazakhstan where they've never done any longlining (some level 2 winching though). Didn't they do a pretty good job suppprting German wind farms out of Den Helder? Why not make hay from that?
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