Twin Butte Energy Ltd TBTEF

RE:RE:RE:idiots didn't address this FACT, so I'm maintain my NO vote

[HCI_STEEL]

jeffkent67 wrote:

riverrow wrote: Could it simply be that Reinwood as the buyer determined that they wished to compensate both common shareholders and the debs. After all, they do appear to be calling the shots. Perhaps normally the deal might be considered unfair to the debs but it appears that it's this deal or nothing. "All other proposals received contemplated no value to the shareholders or debentureholders".

As if Reignwood cares who gets what...

No deb holder should vote yes here and I hope bondholders everywhere else are watching, because apparently the rules go out the window - against all logic - when these types of deals take place.

Great - this deal makes the syndicate whole, awards management more than they deserve - (after all are you not held accountable for horrible results at your workplace?) and gives $21m to shareholders... oh and the leftovers to debenture holders. 

Yet you don't expect deb holders to hit the red button?

Apparently Reignwood DO care who gets what.

From email from mgmt, "To be clear the allocation in the offer was determined by the purchaser not the Twin Butte board which given the circumstances had very little room to negotiate any adjustments."

Therefore, in my opinion, Reignwood is the one creating the barrier to their own offer and doesn't deserve my vote.