OTCPK:JENGQ - Post by User
Comment by
HermannHalleron Jul 16, 2020 10:01am
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Post# 31275296
RE:RE:Convert holders
RE:RE:Convert holdersIf management got their commitment before announcing it, why do you think they are keeping this a secret? If large shareholders such as Jim Pattison and Rob Snyder are in favour, why are they not saying so? Wouldn't they want to encourage other shareholders to vote for the deal? Who are the large deb holders that management spoke to?
You can read about a case a few years ago involving Twin Butte Energy. Management had a deal to sell the company. The deb holders voted it down and the company went into receivership. I think its possible the same thing happens here, unless a new deal is proposed.
https://financialpost.com/news/fp-street/recovery-for-twin-buttes-debenture-holders-more-than-three-times-what-they-were-originally-offered