Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Yellow Media Inc T.YLO



TSX:YLO - Post by User

Bullboard Posts
Post by marcroberton Feb 10, 2012 9:01am
317 Views
Post# 19514523

Pref DIV Cut- RE-FI Ploy or Prelude?

Pref DIV Cut- RE-FI Ploy or Prelude?

I can't believe they are suspending the cumulative pref DIVs.unheard of?

- Are they doing this as a ploy to negotiate a better term sheet for RE-FI?

- Or have they already decided to throw in the towel on the current capital structure (not a big deal for them, their options are worthless anyways), let the bond holders and banks force liquidation??

Div payments are at most 8-9M a quarter RIGHT? what are they doing here. just continue to right size the business. Cutting Pref DIVs do not make sense when ebitda is 51%, revs 1.3 B annualised.

Does this give creditors (I mean the MTN holders not us pref holders) less ammo??

PLEASE someone give us some historical comparables here. What other Cos have ever suspended cumulative DIVs?

Megablocks comes to mind, diluted the the stock to oblivion, but they didn't have any prefs

Bullboard Posts