GREY:FBKZF - Post by User
Comment by
woodstoveon Aug 05, 2010 5:09pm
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Post# 17325888
RE: iRE: Q2 and outlook
RE: iRE: Q2 and outlookAren't the convertible debentures due in Dec-2011, not Dec-2010? Cannot recall the date exactly.
The principal owing ($51m) can be settled by issuance of shares, I believe. That would mean additional shares outstanding. Not a bad thing for the company, as it would improve equity/debt ratio. Existing shareholders will get diluted, but at the then-market price (less 5 pct).
Disclosure: I hold some of the debentures, and some of the common.