Thursday MeetingA couple of interesting things I found in going through the info circular:
- retained $222m of $371m in tax reserves post restructuring; I had thought they sold them all so this is a plus as they could continue to sell off smaller items to monetize this if they are worried about the convertibles.
- they first entered in to discussions in Jan 2014, with a confidentiality in April 2014.
- could be a small delay in trading as New Anderson will trade under the same symbols as before; the delay is due to getting relative approvals
Doesn't change the terrible macro environment but I am betting on them surviving this; they have been in much worse shape and managed to extricate themselves by getting premiums when the commodity prices were much higher.