Hi All, My opinion is, this is the haircut Northern Lights had...

Hi All,
My opinion is, this is the haircut Northern Lights had to have!
The announcement from my perspective contains a lot of spin and may not represent 100% of the facts. Until we see the proposal detail for voting on in March 2017 I would consider holding off buying (or this is worth a gamble if the fine print matches the announcement).
On a positive note, management said they were going to restructure before the end of the year and they have delivered. Doing what you say you are going to do is a big deal and socks seem to have been pulled up in this regard.
To give a bit of context, Northern Lights shareholders originally were going to receive the following:

1. Shares on the following conditions:
   1. 15,099,925 shares if they held until Dec-2019 at the announcement of the merger of $10 per share, plus $US42 Million XRPU. $AUD150,999,250 converted to AUD/USD@ $0.93 Exchange Rate = $140,429,302.50
      Total value of ($US140,429,302.50 + $US42,000,000)=$US182,429,302.50
   2. 12,583,271 shares if they held until after Dec-2017 and converted prior to Dec-2019 at the announcement of the merger of $10 per share, plus $US42 Million XRPU. $AUD125,832,710 converted to AUD/USD@ $0.93 Exchange Rate = $US117,024,420.30
      Total value of ($US117,024,420.30 + $US42,000,000)=$US149,024,420.30
   3. 10,066,617 shares if converted prior to Dec-2017 at the announcement of the merger of $10 per share, plus $US42 Million XRPU. $AUD100,666,170 converted to AUD/USD@ $0.93 Exchange Rate = $US93,619,538.10
      Total value of ($US93,619,538.10 + $US42,000,000) = $US135,619,538.10

At the merger announcement, Northern Lights were contributing $A193 Million value in businesses.
Compared to the deal announced today here is what the previous Northern Lights owners will get:
13,700,000 shares at $AUD4.10 = $AUD56,170,000. Converted into USD at today’s AUD/USD rate @ $0.73 = $US41,004,100.
If you add the $US41,004,100 and $US21,000,000, this is $US62,004,100.
Translation, Northern Lights business owners have agreed to a haircut between $US120,425,202.50 and $US73,215,438.10
In my opinion, this is an extraordinary achievement if it is true and there is nothing hidden. Question in the fine print of the details is, is this deal too good to be true?
This is acknowledgement of the damage that Northern Lights has caused in the merger with Pacific Current/Treasury Group. Let us hope restoration in share price comes once approved.
Best of Luck
Lost