will it be worth partipating , page-16

I don't think they did.
Here is a post from rollotape 2 weeks ago. indictating that MDT wasn't in touch with them who is a major shareholder.
Quote rollotape:


I spoke to an analyst at Renaissance Property Securities today.

Very helpful guy.

They don't know anything that we don't already know...Management at MDT is running a tight ship.

The "unsecured" refinance is the problem.

He suggested that they will relist with news of asset sales and higher interest payements on new finance.


<--- even they where off target.

Apples whatever the entitlement is, roughly 1:3 will be required to raise the capital wether that comes from existing unitholders or new investors. My thoughts are EPN will snap up any shares that don't get purchased by unit holders. This to me smells like a great way for them to pick up MDT without paying a fair price for it.

Maybe true that they won't sell down their holdings as stated before they are long term investors. More likely just that they won't fully partipate in the Cap raising if at all I'm sure they would be a ton of pressure on this one for them.

I think there is a much bigger Future for MDT just the way it is going EPN are gonna own most of it and are getting it for nothing. This is my objection. This deal in no way suits unitholders. If fact it minulates the weekness in the current SP. I suspect MAQ just wanted out of MDT as they have with their other funds. Being the current position its in, No one would touch it with a 10 foot pole. So they have basically generated this "golden handshake" type arragement to get someone to take it of their hands.

Our gearing is similar to that of CER when they rolled over billions in debt, at the worst point of the GFC, Even CNP got a debt for equity swap that will work out better for unit holders when they had 0 equity in super LLC.

We would have been better of selling some of our key assets 10% below book value. This would have allowed us to pay down the debt on the secured loans like revolver. And allowed us enough cash to at least half the required equity injection. When you look at the likes GGP being moved around in the market and seeing several bids for it. I'm struggling to believe they can't find bidders for assets earning good income.