Sounds to me that they're trying to scare shareholders to vote yes. They had an option to renegotiate the loans with current bankers but at a higher cost; that option expires tomorrow. They're telling us that on the one hand we can vote down the SPP which mean that they're going to have to shop around for funds with a short time frame which will put them on the back foot when negotiating with new bankers or vote it in and the immediate loans are paid up. This sounds like blackmail to me and I can tell you I'm not happy about the tone of the announcement. It looks to me that the board has backed us into a corner.
Anyone know what other commitments they have and when they have to be paid??
CD
BLY Price at posting:
$2.70 Sentiment: Hold Disclosure: Held
