Obviously we don't want any more directors/free options/cheap placements to mates.
For years AZZ strategy has been to keep admin costs & dilution at minimum
Lone Star suggest that they can get cheap finance ie Libor plus. AZZ told me when they called me , that was only available to the extent that it is backed by production/sales.
You need production to get cheap bank credit / you need cheap credit to get production
The convertibles can be redeemed by AZZ when ever it is in azz s interest to do so.
AZZ Price at posting:
59.5¢ Sentiment: Buy Disclosure: Held
