bungalowbill...they only have 2 options in reducing debt...capital raise or convert debt to equity. Shareholders have shown they are not willing to support the first option. I said all along that the companies agenda was to convert all debt to equity as a pecurser to privatization. The annual report shows this is what's happening. The 19 seperate transactions listed in the report show debt converted to 56million shares or about 13% equity. And this will probably continue.
If CLZ announced to the matket... we need to do a capital raise to elliminate these high interest debts, would you support them? I dont think so.
IMO only not investment advice.
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