Twin Butte Energy Ltd TBTEF

RE:RE:RE:RE:Mail Strike Great News

[HCI_STEEL]

NuWaveInc45566 wrote: I agree with you that giving the Debs 11MM and the commons 22MM is retard if you hold Debs.  

Picture this, Debs get 33MM and commons get 0MM - Debs vote yes, commons no. Deal falls apart and TBE.DB goes to 0 in CCAA with a non-voting deal to Reignwood for $200MM. 
Essentially, picture any scenario in which the commons get less than close on day of deal. Vote likely would be No for commons which = No for deal. 

This is selfish since No for either Debs or Commons means both parties get sweet-fuk-all out of CCAA.  Think of all the deals this year out of CCAA, none have gone for anything above sweet-fuk-all....not even a fraction of PDP.  

Expect to get nothing if No is your vote. 

CCAA means Reignwood in particular, and the banks (may not get full repayment) with Reignwood not guaranteed to get any part of TBE. Liquidation and less for banks. So banks will want to push mgmt to offer a better deal for DEB holders.