RE:RE:RE:RE:RE:RE:RE:One more time lolPLITheOne wrote:
And yes they want new money. So if long time investors who have supported PLI for many years to watch this piece of coal turn into a diamond are now being robbed! They are now telling these people that if you have any hope of coming close to your ABC you need to exercise your Rights.
Too bad for the investor that can’t do it. We should be offered warrants!!
PLItheOne I don't think that they really want the new money from the current shareholders of 736M. It's a 'pretence' that the current holders can still share in the future success, while their current equity value being wiped out by the refinancing.
If they really want the new money, there will be no cap in the rights offer to start with and no debt ($229M) conversion at this point @$0.0152 when the maturity date is extended to 2024.
It's about the control of the company and who is the majority share holder.
Let's hope that TSX says No and a special meeting is held to discuss/vote on a better plan by ALL shareholders (i.e. 97% non-SALP and 3% SALP)