MBN Capital Structure, Creditors, Probable Sale on Fire, page-2

On 26 May 2014, MBN issued its prospectus for 115,000 convertible notes and some free share:

1. The offer was to the Eligible Existing Noteholders whose notes would be converted to shares.
2. The total of 115,000 secured Convertible Notes each is with a face value of US$1,000 to raise up to US$115 million
3. Of this $115m at least US$55 million comprises new cash.

It is evident that the noteholders of this $115m notes would be big shareholders then.User23 has pointed out that no evidence these shareholders have sold their shares before this new VA/RA