This is bullshit.
Note holders entered into their agreement on specific terms.
Now that the company is under stress & potentially can not pay for the redemptions & be potentially insolvent they want to change the rules.
This is becoming a Cruikshank trait, keep changing the rules to keep your head above water.
Note holders should have the choice to
1. Have confidence in Cruikshank & roll notes over
2. Have no confidence in Cruikshank & redeem notes
No need for an extension. The rules are in place & he should abide by them.
If this vote is carried because James has a majority of note holders in his pocket it will be a travesty for small investors who invest thinking rules will be abided by.
It is a trust document for gods sake
AZZ Price at posting:
50.0¢ Sentiment: Sell Disclosure: Held
