RE:RE:RE:RE:Prefered shares. Roller007 wrote: Lattice: let's say that you are correct, the fact of the matter is that the market is punishing the SP since this resolution will block any take over attempt ( ie quick spike in the share price). It makes sense that many investors don't want to ride this out and we're hoping for a buyout, I guess the boys at cannacord fit this bill. To be frank, I started accumulating a major position in January speculating that this buyout was imminent at the 70 usd level.
You are completely wrong. The PF shares are non voting, non diluting to the float and have nothing to do with blocking any takeover bid. PF are not a poison pill.
They are simply a financial instrument, similar to bonds, where for example CXR could issue $1B worth of PShares paying 4-5% and use that cash to pay off $1B debt that is costing them 9%. This could save them piles of dollars.
If you got in hoping for a buyout, then I suggest it's time to sell and get out.
MT said as recently as 3 weeks ago that he is in it for the long haul.