• October 23, 2017
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  • Equity Update 10.13
    Posted On: Oct 13, 2017

    I write you with a quick update on the Equity Distribution Plan. Several members raised questions in response to my letter that was sent last week. As a result, I have asked our lawyers to prepare a “question and answer” sheet . This will be sent out in the near future.

    Our legal team will provide answers to the questions I received. Until then, let me share that the Plan currently is funded at about $85 million dollars. Arrangements will now be developed to distribute the money.

    Please remember this is a complicated, detailed and time consuming process. Our lawyers will keep the eligible recipients informed of the timetable, process and other legal issues like the withholding of some funds because of taxes .

    Be assured we are carefully working to bring this to conclusion.

    Thank you.

    Fraternally,
    Mike Mayes
    Director, Air Division, TWU International


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