Hi Efed,Another goal kicked by FIIG, who predicted the...

Hi Efed,
Another goal kicked by FIIG, who predicted the distribution would be paid.
One aspect of the terms of the hybrids may be at play here.
The distribution stopper also prevents a buyback of any company securities, ords or hybrids, if distributions not paid.
If they had the cash, buying the hybrids on market[and I'm not sure they have to give any notice of this] would be a cheap way of retiring debt.
Also makes possible an off market offer at less than par[like benhb for instance].
Hold quite a few of these, quite relieved, to say the least!

cheers