Didn't have time to fully digest and research the large debt PRN has. Anyway you look at it, interest charges are going to rise. But mainly not interested in holding large assets in Africa. Even PRN boasts that this t/o makes Australia being their largest asset, which is good for PRN.
T/O premium stinks. Dividends % will fall. Management and Oaktree have accepted, (barring higher offer, which won't come). Scheme of arrangements are easy way to get things done in a less obvious manner. If DDH management think this is a good deal, I have no interest in holding shares with this them, Thus sold out today. DDH was my largest holding. I'm a retiree seeking some good divvies. Today's volume made it easy to get out.
