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Arcan Resources Ltd ARNBF

Energy Oil & Gas E&P


OTCPK:ARNBF - Post by User

Arcan Resources Ltd > Bad deal for convert debt holders
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Comment by rad10on Jun 24, 2014 9:46am
226 Views
Post# 22688810

RE:RE:RE:RE:Bad deal for convert debt holders

RE:RE:RE:RE:Bad deal for convert debt holders
vince2001 wrote:
Seems to me that equity owners are better off (same NAV/share but they now get a debt free company that should flourish provided management is competent); current ARCAN management is just as well off (they keep their jobs); but the debenture holder is giving up 17% in maturity value (cash and/or equity payment). Based on risk/reward, it seems to me that the debenture holders are getting a relatively poor deal. Disclosure: I have owned the 2016 convertible debenture since early 2011 and will be voting no to the current proposal.



Agreed Vince - I picked these up late last year.  Why would I vote for this??  Makes no sense for a bondholder to accept this.
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