Now reading the rights issue document properly, I don't understand why Lucerne is forgiving PPL $7.3m of debt.
Is there a historical reason, why they would do that?
I've haven't heard a lender forgiving repayment of debt almost ever! I wish my bank did that!
Or is it that Lucerne think they will get their forgiven debt back when they offload into the mother of all pumps in future?
If longer terms holders able to shed light on this, it'd be great.
HB
Ann: Pro Rata Renounceable Rights Issue - Investor Presentation, page-20
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