Im more inclined to go with the most recent announcement as being correct. The one which states 19th @5pm deadline. But company is making little mistakes all the time. It makes them look silly imo.
No doubt someone will ask for clarification at the EGM.
Worst case scenario they can scale it back to a $2mil con note. Heaps of companies have smaller notes without the need for approval.
Im looking forward to the two new directors buying on market. Then the finalisation of the rights issue and dates. Then hopefully IG group topping up the funding requirements with their initiatives.
When you look at the main isssues;
1. Funding
2. lease renewal
3. legal issues.
They are mostly related. Fix one and the others can fall into place.
Fix the legal issues and apparently funding options open up again which will help retain leases.
Fix the funding and you can offer a resolution/settlement to legal issues.
That's why GGP looks appealing at these prices. Their is a path forward. And IG can help in that journey.
no more series 3 notes !, page-12
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