I had a phone call from market researcher about how I was going to vote at AGM ? didn't go well. Thinking now I will Vote against all resolutions.I note that Director Tim Wilson Director sold 150,000 shares for $1,725,000 on 7/3/18
Kim Morison Director sold 50,000 shares for $716,203.16 on 7/3/18
Oaktree deal raises capital but 15% Interest of which 5% payable in cash and 10% in kind is hardly a good deal for Blue sky.
I think company did a similar deal with Channel nine entertainment. Oaktree and Apollo swooped in and bought all the senior debt for cents in the dollar, then converted it to equity, completely wiping out the existing shareholders and 90% of the second tier lenders.
2% fee to provide $50m or $1m fee to Oaktree.
After 7 years debt of $97m payable although $4.8m interest is payable as interest annually.
What was I thinking when I bought in to these troubles?
