So according to the article sources at the financial end of town...

So according to the article sources at the financial end of town say JFE Shoji is "supportive of mangement" and a banking source says a debt for equity conversion is on the cards.

Bit of a confusing line there.

Hopefully "supportive of management "will mean an increased equity stake in Baralaba.

And a debt for equity swap would probably involve SK paying the debt and then getting equity equal to the amount outstanding. Given our market cap is $60m and the debt is $100m Im not liking the sounds of this route, unless they can get the share price up first or issue stock at a big premium.

But if you do the JFE Shoji sell down then presumably you dont need to do the second.