BigSky,
I have not followed PNA, but their gearing does not matter in this debate. What matters is that they got their financing sorted on their terms and to their agenda and OZL did not.
Do you really want a capital raising and keep the board and current management? While I am very very upset at losing the bulk of the assets, I am happy to pay that price to allow a broom to be put through the board and management.
If that means that we need to rebuild from where we are, so be it.
HT1
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