If Warren wins we lose the rig, so ckk shareholders lose.
If ckk wins, the board sells globe drill assets at fire sale prices. Ckk shareholders lose.
If it's a stalemate, ie. Ckk delivers rig but still has ownership, ckk shareholders lose as the rig has no realizable value.
Negotiating is the only possible way which shareholders can win, but that isn't likely between this board and strange investments.
Solution? Call an egm, remove the board, and negotiate. At the least we'll know where everyone stands and shareholders will have a say, as opposed to just screaming silently from the sidelines.
CKK Price at posting:
2.5¢ Sentiment: None Disclosure: Held
