Arcan Resources Ltd ARNBF

Happy debenture holders?

[teevee]

I see the debentures are well bid at $50 to $55. The folks that bought at $80 and voted against the deal must be happy now, especially when ARN will put stock at market to them in leau of cash when the debenture come due early next year. Then again, maybe the debenture holders will do a better job of running the company?....or will they just liquidate the asset for salvage?

[mike49]

liquidate to who? arn has some pretty big holders with tomatos on the face.the tax loss or control for a better time is the only option.the former assumes a profit somewhere to write off the loss;the latter big balls and and a bigger wallet. the biggest losers here are the businesses and people of swan hills proper-once again big badda boom and then poof. staff retention my boot.have tax bill for

[teevee]

All I know is that under the terms of the debenture, ARN must redeem with stock at market to avoid default. This will give the first debenture holders control of the company. What they decide to do with that control is anyone's guess. The problem the debenture holders would then have is that once they are converted to shares, the series B debenture holders rank ahead of them if the assets are