GREY:VFGGF - Post by User
Post by
Fullblaston Jan 24, 2015 11:23am
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Post# 23359066
Special meeting agenda
Special meeting agendaCutbacks in the oil industry have been happening very quickly over the past few weeks. If the bank wanted to call back the loan on PRY, it would have done so by now and we would know about it, since this is material information.
My guess is that the bank agreed to stay onboard but requested substantial changes in the capital structure (share consolidation and others) and the disposal of some assets in order to further reduce debt. The special meeting will cover those issues and the presentation of the business plan going forward. I'm sure that large institutional investors, some of them have a big stake in this, have been consulted. I'd like to know what they know. I can imagine that some pretty robust backdoor negociations happened over the past weeks among many stakeholders. Let's also hope that news on the operation front are encouraging.
That's my take. Any thoughts ?