Ann: Update of put option, page-45

Holocaust deniers and moon landing sceptics will tell you that history proves them right as well.

What is it with shareholders on here that relentlessly claim "all parties" want a solution that saves every party's capital? If you're investing in equities an absolute bare minimum must be to understand where you sit in the capital structure.

Nobody else - trade creditors, banks, bond holders - really cares if shareholders lose money. We are the bottom of the pile. They want the company to survive but they don't give a fig who owns the equity, they just want their money back. Board and management will go through the motions to try to get some crumbs for shareholders but they are as beholden to the laws of the capital structure as anyone else.

Recap may happen (though seems unlikely given how it's dragged on with no substantial developments whatsoever) but there is no evidence I've seen that it will return any money to QIN holders - baseless optimism aside. Instead of bagging short sellers, just tell us what's the evidence?