RE:RE:RE:RE:RE:Debenture Resolutionciretaka198 wrote: To Skibum Your statement "The fact that Royer wants to convert his debentures bodes well for the future" should be enough to say then why do this now? The vietnam plant is near completion The 5g spectrum auction was wildly sucessful Some debenture holders(Royer) dont mind taking shares instead of cash so what is the hurry? If they have to do an equity raise it won't be because of debenture interest "The appeaser is the one who feeds the crocidile in hopes to be eaten last"
For what it's worth, despite my previous comments I voted against amendment for debenture conversion. Ultimately the terms aren't at all clear... we're being asked to vote for a debenture conversion with a price TBD, based on results not yet released.
That said, I'll be amazed if it doesn't go through. Despite voting against, conversion may still be the most direct route to getting this pain over and done with. I imagine Royer et al had assurances of a favorable vote or why bother presenting this at all -- they would have known re. the majority of minority stuff. Just hope we don't also see a pp at these deflated prices. Someone is shorting with some confidence which has me feeling cynical. Looking forward to getting this all behind us. Still believe in a few quarters this will work out, though dilution will mean that it won't work out as well as it might have. This is a bit of an unnecessary mess which seems to pad the holdings of a small group. ... just my thoughts.