Bellatrix Exploration Ltd (Canada) BXEFF

shareholders should vote against the deal

[Halepenos]

Current shareholders should vote against the Board's proposal and to go for a full assets sell and liquidation.
Why to wait and go for a huge dilution (keep only 16%), only to come back to the same point but with lower value for assets and higher debt? Only current management would benefit while the current shareholders will anyway lose 99%.
Selling the assets at a 40-50% from current carrying value will allow the current shareholders to recover more by liquidating the company now.

[honeystivbators]

This post has been removed in accordance with Community Policy

[Halepenos]

Extract frm the press release: "The Company intends to hold separate meetings (the “Meetings”) of its Senior Unsecured Noteholders, Convertible Debentureholders and Existing Shareholders in respect of the CBCA Plan and certain related matters in May 2019, subject to approval and direction from the Ontario Superior Court of Justice (Commercial List) (the “Court”) in the proceedings to be