GREY:NKRSF - Post by User
Post by
stockuseridon Mar 25, 2016 8:16am
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Post# 24700357
Requirements to support Strategic Plan
Requirements to support Strategic PlanNKO Notes price was les than $2 for quiet some time. Almost no activity at all.
But then since the news release stated that "Indenture Amendments require the consent of Noteholders holding not less than 66 2/3% of the principal amount of the outstanding Notes",
insiders starts to buy big share volume of NKO notes. As per Canadian insider reports, insider sold the common shares and bought NKO notes.
IMO, the buying of this NKO notes (climb 8x) , will guarantee that they will get more than 66% of the total consent vote. Solicitation statement will be set out at March 29.
It's very important that they meet the following requirements to support Strategic Plan :
1. Done (already approved) - Executed a support agreement with its institutional lenders (the "Lenders") holding approximately 85% of the senior term loan facilities (the "Term Loan")
2. Not Yet Done - support agreement with noteholders (the "Noteholders") holding approximately 60% of the Company's 7% senior unsecured convertible notes due December 31, 2017 (the "Notes")