new offer from gold coast consortium, page-22

If they can get 40c or higher from Sycamore for the recapitalization deal, that's not a bad deal considering the company's crumbling position right now.

Personally I would've thought they would've offered lower, given that such a deal will not confer the benefits of a full takeover - namely, full control of the company, ability to operate as a private company and therefore out of the scrutiny of the public, and straightforward pathways to exit the investment when the turnaround is complete.

We will have to wait and see I guess.