Im not sure CDX is in "don't really need the retailers" territory, having extended their debt facility last quarter to tide them over to this quarter and NEEDING to do a CR at 40% discount to option conversions a few months ago and previous SPP start of last year.
I don't dispute that the share price has the potential to be well north in the next few months/a years; I am solely commenting on the terms of the SPP and the omission of the options; personally, it does the opposite of extending the olive branch. Given they were free options, it would have been good to see the exercise price well north of the current SP to signal to participants/market where they expect the SP to be in the short-medium term.
Rant over.
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