"Could be something like half debt 125 million for 208 million shares that's at a rough 21 day VWAP of 56c this would be a very positive outcome for holders imo"
As a bond holder, why would I even contemplate an offer from the board that would see me ending up owning one-third of the issued capital of the company for the price of 56c?
How would I ever get my capital out under that scenario?
Put it this way, if a pure equity recap exercise was to take place: given the circumstances, do you think it would take place at a price double that of the last price?
Besides, your prosposal deals with $125m of debt: what about the remaining $213m of notes?
QIN Price at posting:
29.5¢ Sentiment: None Disclosure: Not Held
