GREY:PRBEQ - Post by User
Comment by
Eagle100on Mar 18, 2016 7:00am
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Post# 24673791
RE:RE:RE:RE:RE:RE:RE:RE:RE:not worth the effort
RE:RE:RE:RE:RE:RE:RE:RE:RE:not worth the effortI agree, it is not surprising, that senior shareholders loans money. However, if you own 80 % of the company, and you want this company to survive, why do you ask for a interest rate of at least 13% + 8%?
21% interest rate, when money costs almost nothing, this would kill a company even under good market conditions, the intention is very clear.
The Morrissons took from those, who own the minor share of 20% US $ 10 mio, when Rooster went public.
Even though a group here repeatedly postet the opposite, the Morrissons did not pay one single cent for their shares.
When, not if, when Roof fails....
If the Company is unable to restructure the financial and performance covenants of the credit facility or extend the term of the waiver on or before the end of the fiscal quarter ending June 30, 2016, then the Company may be in default of one or more of the covenants and in that event the holders of the Notes may exercise their remedies against the Company