Post by
alkhor on Mar 22, 2019 4:40pm
5 Months to Debenture Maturity
I have the feeling LHR will try to extend the maturity deadline by a few more years (they've don it twice before). What my big worry is what they will do about the almost 3 years of interest that will come due at the same time. With the Alberta economy in the crapper still, they will not have the cash to pay it. They may have to pay in shares but when they announce that the share price will plummet (not that it can go down much further) and the debenture holders will own a large portion of the shares, with the debentures still outstanding. They may also decide to pay the interest and debentures off with shares at the same time, it which case the debenture holders will own 99% of the company.
We should here something in the next month or two.
Comment by
riverrrow on Apr 18, 2019 3:12am
The worst thing is the debenture interest was treated as being paid out to the holders and I got to pay income tax on my debenture interest received (but not received). Since than I've moved my debs into my TFSA. GLTA.
Comment by
riverrrow on Apr 18, 2019 3:16am
My apologies, the debs I'm referring to are LRT.DB.G. This is the wrong board. GLTA.