100% agree
A40 are in default = no position to bargain
take what you are given and be happy.
take over a40 would either dilute existing Gxy holders via a script or use up cash which has been allocated to SDV.
so buying A40 with cash needs to be better investment than SDV in the long run - ahhhh NO
or
if script, A40 better that some capital management of GXY ie SPP at a discount to market price. Again NO
no one is buying the A40 debt without securing a majority of the company and for a song.
GXY and Jiangte are the only two that can get a deal done here. Unless an outsider is prepared to pay 20cents + per share. Highly unlikely.
GXY management will be remembered well for this masterstroke.
if the sector is getting smashed we will position ourselves to benefit from the manipulation. Brilliant.
AFR have no idea....
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