"The company is also seeking to sell HK$4.55 billion (US$587.0 million) worth of new shares through Morgan Stanley, which will give it added "fire power." "
About the amount OZL needs (well actually, probably a bit more), yet Michelmore and board claims such a capital raising is impossible in the current market.
One has to wonder how Hegarty would have handled this situation, how it would have played out.
owen hegartys new gig, page-10
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