We are being taken to the cleaners for AC to cash in on their debt. That's why we are being given away for a 50% or so discount.
Directors are fine. They have their free 'hard earned' shares to cash in on.
This is not for the benefit of shareholders but debt holders.
Its a plan to cheat the small for the benefit of the large.
All in my opinion and not investment advice.
Do your own research.
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