Centerbridge gained 90%

Well guys,
After a equitisation program, Centerbridge now holds 90% of the equity.. What is the faith of the remainder 10% shareholders ?. Just a matter of converting 434mil preference shares for a compulsory acquisition. Bl**dy clever move I reckon.. G'luck


"Following completion of the Rights Issue, the Share Buy Back Offer and the Equitisation, the Company has 930,864,944 fully paid ordinary shares and 434,001,968 fully paid Convertible Preference Shares on issue. Centerbridge now holds (a) 464,501,607 fully paid ordinary shares representing 49.9% of the issued share capital of the Company and (b) 434,001,968 fully paid Convertible Preference Shares issued at a value of approximately A$71 million."