SP, page-56

Surely this must be the week that they announce the agreement with the bondholders as it is only a month now before they will default without an agreement which will require the BOD to appoint receivers.
I sold my HZN shares shortly after the Chairman, Fraser Ainsworth announced last October he was retiring not only as Chairman but also as a Director in the name of Board Renewal - I definitely didn't accept that explanation considering the amount of money he was giving up.
Anyway I believe Management knew back then that they would have a major problem repaying the bondholders and here we are some seven months later and still with no bondholder agreement - have they been pro-active enough early enough on this issue or is it because of a complete inability to solve this problem? Maybe the bondholders just want their cash back next month which is something that Management can't give them as there aren't any further avenues of finance available. Maybe the bondholders have received advice that they will receive their money back quicker through a receivership or a liquidation.