RE: RE: if plan not accpeted RESULT BANKTRUPCY
Well here is another scene, the Tellier and friends ( select MTN holders ) plan goes thru. 82.5 % of the shares go to the MTN holders. Upon getting their shares the MTN folks dump 90% of their shares along with the pizzed off Debentures holders and the panicking commons shareholders. The share price dives to .10 post split.
At which point the shares would be an amazing deal. I, for one, would buy a bunch of them.
Tellier and friends vote him and the BOD a nice raise with more gifted options for a job well done, screwing the shareholders for the benefit of a few debtholders. You see once the deal goes thru, the MTNs shareholding will have enough sway to vote back in the inept management that got the shareholders to the point they are currently.
Most of the shares would be held by the people who bought them for 10 cents a share. I doubt we would vote the way you suggest. The MTN holders who had already sold the shares wouldn't get a vote.
Your shares that were .055 prior to the recapitalization are now worth a fraction of a penny a week after it is implemented . Not totally worthless, but voting yes helped very, very little.
You can make up any scenario you want. This particular fiction doesn't make a lot of sense.
After a 200 for 1 reverse split, the share price is very unlikely to lose 99.5% of its value and return to the pre-reverse-split price. If it does, it will be an amazing deal.
I think you are over-personalizing this situation. Tellier is not deliberately conspiring to reduce the share price. He is trying (with very little success) to manage the company effectively and create value for all stakeholders. Kick him out because he's bad at his job, not because he's succeeding at his secret aim of cheating you out of your money.