BR, I have re-read the announcement on the discharge of the loan arrangement of CS against the 10,000,000 shares of NC. Loan amount = roughly 4.3m. He gave his 10m shares as a security against the loan. Shares fell below to mid-twenties, hence far below 43c (=representing the loan amount) but who cares. Hey, this is friendly NC and we can discharge him from the loan taking his 2.5m worth shares to cover the 4.3m loan. Is that about right? If yes, what is straight forward about this? In any decent supervised capital market you would go straight into an investigation.
bitterly disappoined, page-58
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