This will come back to hit hard giving bright so much leverage.
Bold statement given you have no idea what has been discussed / agreed upon behind the scenes - this part:
" Those discussions relate to Synlait’s broader recapitalisation plan, which includes the shareholder loan as well as Synlait’s proposed equity raising and concurrent refinancing of its bank facilities, and various other matters."
sounds to me like A2M might be taking a bigger stake in Synlait in return for the loan facility support ? We are all just speculating but I cannot see that A2M don't have a plan.
Perhaps Bright and A2M are happy to hold 40% each of SM1 moving forward and A2M's contribution for an additional 20% plus shareholder CR might payout the banks altogether ? Was an MOU done behind the scenes in exchange for the "yes" vote ... who knows ? Bond holders still need to be paid in December so they need another $180 million there .... lots of balls in the air here but to say Bright have put one over on A2M is a little premature at this stage IMO.
GLTAH
A2M Price at posting:
$6.82 Sentiment: Buy Disclosure: Held
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