OTCPK:ARNBF - Post by User
Post by
seriousinveston Jun 24, 2014 11:37am
366 Views
Post# 22689502
Is this legal?
Is this legal?
As I understand it this is not a tender offer for the debentures which would be ok but an involuntary conversion of every $1000 debenture I own into $825. I am surprised that even with a 2/3rds vote of the debenture holders that the company has the right to reduce the principal amount of my debenture. Can someone who is knowledgeable about Canadian law confirm that the company has the authority to take my property without my consent?
I for one am not happy about this proposed transaction.