Jadel
Rather than PIF putting in cash just convert all debt to shares in LLA.
PIF would have to stand up to RBOS but they have had a fair chunk paid back of the debt. It was $100 million last time and they have sold GPM shares for more cash.
I know that investors want their money back but they also want as much of it back as possible.
It would be good for WC to tell us if PIF took over Artic position in LLA how much more additional equity is required to allow a bank refinance.
NTA of LLA indicates that at 7.5 cents there is significant upside in LLA shares. Potential for PIF to really claw back value for its investors instead of a haircut.
Problem at the moment is that all these deals are been done behind close doors without giving investors reasons why sales are been made.
To stand up to banks it should be more transparent and fights had in the public view
OCV
octaviar limited
