RE:cash into 2025?There is no way they can do capital increase in the future. Nobody believes them anymore. The management team has lost their credit. After merge, bankruptcy after 2025 is the only possible result for the new company.
Without merge, CZO's CEO will lose his job after this year's annual shareholder meeting. He knows this very well.
After merge, he can keep his job for 2 years longer and earn 1M $ more. (he will go retired after the new company bankrupt in 2026)
This is the main reason he choose the merge. We have to vote No. If the merge is succussful, the new company's stock price will be 0 after 2025.