RE:Trican Repays Noteholders and Amends and Increases RevolvingI love what has happened this week. Liquidated Keane which was making the P & L look bad with mark to market losses, also reducing confusion reading the financials.
With the proceeds, they pay of their debts, removing convenants to give them flexibilty to spend their free cash flow as they like.
These are really non-conventional moves, and tells me that management is preparing to do some more dramatic things. I suspect aggressively buying back a sh*tload of stock. Maybe Dutch auction
I really like their style. I just hope that management doesn’t try to take them public at say $1,50 a share. I have been screwed over by this in the past, holding long term, but having my stock taken away for me at a massive loss. Right now, getting 30% more than current price doesn’t work for me. Unfornately in these situations, boards often side with management, which is a conflict of interest IMO. Hoping that is not their plan, and that management is in it for the long term, and doesn’t screw retail investors like myself.