Forterra Trust (formerly: Treasury China Trust)

[KopiKat]

To summarise my understanding, if the deal goes thro',

1) Under the Unit Purchase Agreement (UPA), 26.9%
2) Under Put/Call Option Agreement, 3.08%, exercisable @ $2.98 from 2 to 31-Jan-14.
3) (1) + (2) = 29.98% [they control the voting rights to (2) during the Option Agreement period], but note the exercise period and price. Unlikely to be exercised if Forterra Share Price is below $2.98 during Jan-14
4) Under UPA, UOS (Unit Option Scheme), 1.2%, exercisable @ $2.98 - $0.34816 till 30-Jun-15
5) (4) will unlikely get exercised if Forterra Share Price < $2.98 . But, in the event it's higher, together with (2), total = 31.18%
6) I suppose there could be also a case of (1) + (4) = 28.1% if Forterra Share Price >$2.98 before Jan-14? Have to read the UOS in detail to confirm. But, not so important as they control voting rights to (2) anyway.