Converge Technology Solutions Corp T.CTS

Company reasoning for the credit limit increase direct quote

[growthnprosper]

- not related at all to process, business as usual… an opportunity to provide additional flexibility and show confidence from banks

[preytel]

if thats true they need to come out and say it publicly because this is ugly

[growthnprosper]

not related to process, additional flexibility with favorable terms.. another comment from the company!

[preytel]

are they commenting this to you personally?

[retiredcf]

Once again we have short sighted investors guessing at the meaning and not realizing that this potentially makes CTS even more attractive as a takeover candidate. Do you think this heavyweight group (JPM and four of our major banks) would make this offer if they had concerns? GLTA

[Mephistopheles3]

Just one clarification, the accordian was already negotiated as part of their credit agreement with JPM and co.  When you get an accordian, you pay for the option and the credit approval and all that good stuff happens when signing the agreement.  So JPM and others didn't approve anything or make an offer, CTS unilaterally has the right to exercise the accordian.   That

[AlwaysLong683]

There's a difference between pure speculation and a company putting things in writing that would suggest they are going to continue with business as usual as an independent entity. When the CEO (Shaun Maine) is quoted in the company's own press release yesterday stating.... "We are pleased to have the support of our banks, which strengthens our liquidity position on attractive terms

[retiredcf]

You may be correct Always, however, there are two sides to this coin. Your view is that because they have taken this step, it's a pretty clear sign that there will be no takeover.  The other side of the coin is that they are doing what responsible management should be doing. In other words, until there is a firm offer on the table (which they would then bring to shareholders) you

[AlwaysLong683]

Fair point retired. If the Committee comes back recommending a takeout offer, you will be proven correct. If not and there is no hostile takeover offer, the end result is the same (business as usual) regardless of the reason(s) behind it. Just to clarify: The Speical Committee is under no obligation to bring any firm offer to shareholders for a vote. The Committee can reject any and all firm

[preytel]

where are you getting this quote?

[preytel]

one last time is this from the company or did you make it up?

[growthnprosper]

These are direct quotes from someone on the Review team.......but he asked not to post anymore of his comments on Stockhouse as they are in the freeze period until they publish next week.

[growthnprosper]

sorry I meant he said they were in the quiet period until 14th

[boondokcs]

Who told you this exactly?

[AlwaysLong683]

growhnprosper posts today:   10:56 am What analyst said anything like this? No analyst did this. The Company cannot report any of these things before they publish earnings. This is bull!   12:25 pm Company reasoning for the credit limit increase direct quote: not related at all to process, business as usual… an opportunity to provide additional flexibility and show confidence

[preytel]

I feel like I've been f'd over. I asked repeatedly where these quotes were coming from and it may or may not have been from an insider?  let's be honest. If you're an insider you're working for yourself.  there is a problem here. It may be illegal