OTCPK:JENGQ - Post by User
Comment by
DaveWpgon Sep 03, 2020 10:16am
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Post# 31501042
RE:RE:Not a fun ride!
RE:RE:Not a fun ride!I was away and just now saw your response Energyrunsearth.
I have held the convert debs for several years and initially bought them as investment grade fixed income (knowing that there is some risk with unsecured convertible debentures). So yes, I have lost money, and before the vote I was expecting to get 12 cents on the dollar. This is terrible for a utility (Just Energy is a utility, not an oil and gas producer). I also have lost money on my oil and gas stocks, but am not complaining, since they were purchased as higher risk equity investments. My vote against the deal was simply a protest vote, but if the deal failed and the company went bankrupt then that is the cost o my vote - it would be worth the 12 cents on the dollar. Now that the deal is altered, I am looking at about 25 cents on the dollar. This is slightly better and I am now resigned to taking a big loss - but I am not happy about it.