Post by
bushhog1 on Jul 19, 2016 7:38pm
Management proposal a Big Joke
What the Secured Bondholders will get, if this deal goes through
Present Shareholders Equity ( Q1 2016) = $ 475M
Bondholders bring New Equity ( $904M us) = $$1,175M
Total New Equity = $1,650M
Secured Bondholders will received 95% of New Equity = $1,567.50M
LTS borrowed $650us from Secured Bondholders a year ago and will now
give them $1,567.50 cad in Equities for that
Secured Bondholders will get about 100% return in 1 year.
Couldn't LTS get a Lender to lend them $120M loan to cover LOC shortfall
at a lower rate.
Only my Opinion