Have you all considered that a CEO and Board have a fiduciary responsibility to their shareholders. Why would management tell the world what a terrible position the company is in? i.e. RC before scheme is binding.
It would deflate the share price, reduce confidence of the lenders, lessen the likelihood of a takeover and make raising capital expensive.
It is another matter entirely to have a binding offer on the table and then be realistic about the future to shareholders so they can make an informed decision.
There is nothing strange about that - in fact it's what you should expect.
CTP Price at posting:
17.5¢ Sentiment: None Disclosure: Held
