Unfortunately, no matter what the equity deal is, the board will need to execute it in the interests of ALL shareholders.
Putting the project on hold (which is essentially a discontinuation) will result in the banking syndication walking away and a breach of the convertible note terms. See events of default below from the NOM to approve EMR participation in the notes.
This will mean a restructure (as EMR have form in doing with Peak) and the only two shareholders that benefit are EMR and Tecnonic (noteholders). Shareholders tear all equity up, EMR/Tectonic gets the project for the value of the notes they've funded HFR for and there's a class action against the board by the other 99.9% of shareholders that would be f*cked over with total lose of equity.
Of course this is all hypothetical but the underlying message is not matter how far below water the 30% shareholder is in the outcome, the board needs to lock in the funding in the interest of all shareholders.
Real shit-show on our hands given the deteriorating ECM and global macro.
- Forums
- ASX - By Stock
- HFR
- Ann: Annual Report to shareholders
Ann: Annual Report to shareholders, page-16
-
- There are more pages in this discussion • 20 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add HFR (ASX) to my watchlist
|
|||||
Last
31.0¢ |
Change
-0.013(3.88%) |
Mkt cap ! $121.5M |
Open | High | Low | Value | Volume |
32.0¢ | 32.0¢ | 31.0¢ | $17.67K | 55.34K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 28450 | 31.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
32.0¢ | 47660 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 28450 | 0.310 |
2 | 18078 | 0.305 |
2 | 130000 | 0.300 |
1 | 10629 | 0.290 |
1 | 18034 | 0.285 |
Price($) | Vol. | No. |
---|---|---|
0.320 | 47660 | 1 |
0.325 | 5000 | 1 |
0.335 | 14800 | 1 |
0.340 | 15295 | 2 |
0.350 | 2100 | 1 |
Last trade - 12.37pm 30/08/2024 (20 minute delay) ? |
Featured News
HFR (ASX) Chart |
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online