RE:buyout offerI will certainly be voting against the takeover bid, both as a shareholder and a debenture holder.
As a shareholder, I don't like the way the share price was manipulated so they could say the offer is 2 cents, the closing price on November 9th, when the shares had traded between 2.5 cents and 5 cents for the past year except for November 9th when they forced the price down to the 2 cent level. I accepted long ago my shares did not have much value, but having them stolen is worse than getting nothing.
As for the debentures, these have the potential to be worth a lot more next year when they become due. If LHR cannot pay them off (which they can't do), they could be paid off in common shares, so the debenture holders will end up owning about 98% of the company. Why accept 7.5 cents on the dollar when you can get 100 cents?.
Not a lot of people follow this Bullboard, so many will only find out about this takeover when they receive the proposal in the mail.
VOTE NO