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Rick19

834 Posts.

418

30/11/19

14:09

Post #: 41726446
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Originally posted by Haplo: ↑

There is another alternative course of action which I believe is an unlikely outcome. I think everyone would agree that a reset is required from all parties on the current state of play.

GXY can also decide to withdraw the debt default notice/retire the Receiver on its own accord. Renegotiate the debt on better terms (ie for example to 5% to match competing offer) with repayment terms/dates written into the DOCA.

A40 gains breathing room to recapitalise and restructure the business... properly without the default notice in play or with a gun to its head. GXY remains the top shareholder without losing their equity plus the Bald Hill assets remain in Australia hands.

Ohhhh....wait - that's what the A40 board wanted to do in the first place but Tribeca/GXY wouldn't allow that by calling in the default notice. Best just to ignore the above then and to continue on as is.

Haplo

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@Haplo, i got the distinct feeling that firstly Tribeca and then shortly after, GXY's patience with Calderwood had expired. Thinking about it in hindsight, could having Calderwood involved with the company (in any capacity) have been the stumbling block to reaching agreement prior to VA?

A40 Price at posting: 8.2¢ Sentiment: None Disclosure: Held
7 Upvote

0 Great analysis

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