RE:RE:Proposal was getting rejected so they postponed the meeting2young2invest wrote: Well 77% voted FOR improved terms. Did anyone receive calls to change their mind??? 7% interest 44.5% of debetures will be redeemed $5 convertion rate I guess, everyone should be happy now.
It's a much better offer now... Still think the conversion price is too high.
With the higher interest rate, a little better conversion rate ($4 USD) would have likely had the debenture trading to par after conversion. I still think it will trade at a discount post-conversion (which would mean the overall conditions don't meet its market value).
Now, I hope they finally get their ducks in a row and improve their balance sheet over the coming years. I still think they're a good ways off reinstating a dividend or buybacks.