Collins Street finally realised that whilst they got the better end of the convertible note deal, they also almost bankrupted an otherwise great company.
It's nice to see they stick with the GBM even in bad times and finally the company got some breathing space via liquidity injection. Overall I am obviously quite frustrated with the 95% SP decline in 18 months, but at least GBM stays solvent and maintains 100% ownership of Twin Hills.
Hopefully this is the absolute bottom for the stock.
Ann: Share Placement and Non-Renounceable Entitlement Issue, page-4
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