TSX:RPR.DB - Post by User
Comment by
Tree2treeon Nov 08, 2024 10:16am
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Post# 36303073
RE:Debenture Holders Now the Key to Restructuring
RE:Debenture Holders Now the Key to RestructuringTVR, I agree that "It is positive that today's early trading in SOT.UN has not resulted in an enormous drop in market price."
However, I respectfully disagree that debentures are the key to restructuring. You didn't mention a major player in this (not the only player) who is GA. He has a large number of common shares and presumably wants to make money on those. Converting the debentures would lock in his big loss and make him a minor shareholder. He wants the opposite, he wants a bigger equity stake to win back his losses and even more. And he got his way by driving out the Welches from their entrenched position. So I expect he will get what he wants here.