Has anyone received the RAMcap (Rc) letter yet?
Rc have 14 M shares in TRY. They are looking to obtain support for convening a meeting of TRY with the purpose of removing one Director and passing a resolution to limit the NED's remuneration from 800k to 200k pa.
Frankly IMHO only, I feel sympathy for the proposition. Rc also want the Board to embark upon a $10M Convertible Note raising to get Investec off the agenda and use the balance to commence Ohio Creek. They believe they can get a National Broker to underwrite the the Note. They suggest a 15c conversion price and a 6% coupon rate.
I am interested in sensible comment?
Has anyone received the RAMcap (Rc) letter yet?Rc have 14 M...
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