Is anyone else watching this slow motion disaster?
The interim results announcement included a statement about the imminent debt for equity swap. There is $117m of debt and about $5m of equity currently.
After the swap the debt holders might therefore have 96% of the company.
Four per cent is a good result for existing shareholders, I was expecting zero. A good effort by management and directors if they can bring this off.
bacci
PSH Price at posting:
5.0¢ Sentiment: Sell Disclosure: Not Held
