Zargon Oil & Gas Ltd ZARFF

Debenture conversion

[helgek]

I understand why shareholders argue that the debenture holders should accept a conversion price of $0.10.  

However, Debenture holders have no reasons to accept less than the current share price of $0.05

[pablo87]

what shareholders get should be the only question TBD. realistically, the shares are worthless. prior to the wcs debacle, debt was 75% and market cap 25%. so a 25% drop in EV means equity is wiped out. where I find people get confused is that their main asset a house trades on EV (bank debt + their own money) whereas shares represent owners equity only which in a heavily indebted co., can easily

[funfacts2018]

My interests are not the shareholder's interests, not yet anyway. "No quorum" isn't the answer at all.  That just results in the meeting being reconvened later, and whoever is present in person or proxy is now quorum and the vote goes ahead.  The answer is a "No" vote ...  Back in 2017, the company made the pitch that by extending the debenture

[rad10]

yet another voice of reason funfacts!  - thank you.  We have some rookies and nubes on the board............  I voted no on 400K face value - that's like 1 % of the outstanding amount.  Shares in lieu of interest only please.

[helgek]

In return for giving up their preferential status, debenture holders are asked to give the share holders a gift of around $4M. Does not make sense to me.