OTCPK:VGIPF - Post by User
Comment by
blondeBondon Nov 15, 2013 9:55am
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Post# 21909227
RE:RE:FrontFour submits financing offer and comments
RE:RE:FrontFour submits financing offer and commentshawk35 wrote: Not impressed with Frontfour press release. There has been no suggestion of a share issue but they raise it like it is a fact. Are they doing this to create fear so they get shareholder support?
Completely agree with you. Anyone not familiar with the story would assume that RPL has talked about issuing shares in the 75 cent range.
"FrontFour is concerned that the board of Renegade may be considering a private placement at or below the current market price. FrontFour believes that Renegade's shares trade at a significant discount to net asset value; therefore, an equity financing at or below current market prices would be excessively dilutive and a breach of the board's fiduciary duties." Shady press release full of accusations, but no substance re: FF's intentions.