See the announcement from AFG today in response to the Michael West article.
The announcement says that the notes prospectus states that the notes were always subordinate to the senior debt. However, the notes prospectus appears to actually state that the subordinated notes rank behind all the debt that is senior to it (obviously). But there is nothing in the prospectus (as far I can see) that states whether a particular debt (especially the senior debt) is senior in rank to the notes. The implicit assumption seems to be that it is but that is not stated explicitly.
However, the prospectus does say that AFG can re-arrange their debts etc any way they see fit.
news article re shareholder value for afg, page-12
-
- There are more pages in this discussion • 18 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add AFG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$1.63 |
Change
0.045(2.84%) |
Mkt cap ! $441.3M | |||
| Open | High | Low | Value | Volume |
| $1.60 | $1.64 | $1.59 | $1.514M | 932.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3002 | $1.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.64 | 34057 | 7 |
View Market Depth
| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| AFG (ASX) Chart |