PabloSHLet's keep this simple. About 8 months ago before the overwhelming rejection of the dilution proposal by the bosrd by 94%, we retail shareholders held about a 64% equity share in EOM. That included the UN IFC that were not part of the insider group. After losing the vote the current board, without another vote, implement the CVR that accomplished the same thing as the dilution that was voted down.
The CVR gave 50% of EOM to Tenor who would undertake the arbitration. Then they gave 21% to their favorite inside shareholders, Amber and Paulson. Then they gifted members of the board 7% of the arbitration, which by the way would be a minimum of about 12-15 million dollars.
Consider the 78% to Tenor and insiders. The 22% that is left in theory will be shared based on the shares held. Since we are down to about 50% of those shares our return is now about 11%. Rest assured, expenses will be deducted from that. So, our equity position as a group has been reduced from about 64% to less than 11%.
The choice you have is, do you want a potential return of $5 per share or potentially much less than $1. Personally, I think it would be a lot less than $1. Tenor has made it clear on previous arbitrations that they want it all. They have no respect or interest in our situation as shareholders.
I hope I have made it clear that voting for this current board is not in any of our interests. The only alternative is to vote for the Courtenay Wolfe group.