reflux

Just read the terms of the deal and coughed up my coffee.

Really simply- its good that BBG survives and is not in liquidation mode.

Well done to existing shareholders that have caught the bounce in the share price and best of luck with its future direction.

But what has occured is a classic repositioning for a breakup...or as Dr Pollard would indicate..enabling the company to move forward (to what?)

1- Altamont have replaced a pool of lenders with one, themselves- so there is no potential for holdouts.
2- They have provided working capital to BBG to survive by buying one the BBG brands in exchange for a cash injection: rather than just lend them the money ?- first phase of the breakup
3- They have enabled sufficient options to control the share register at a limited cost- because with access to a 15% holding there is no chance for a 100% takeover by other parties.
4- They have inserted a new CEO to unlock the potential for other brand asset sales by re-focusing on this strategy rather than Launa's attempts to grow the business.
5- They have sufficient board representation to support the CEO.
6- By controlling the funding they are controlling the asset security and can ratchet the interest to direct further asset sales without any interference.

The real question- is what value will they pass through to existing shareholders because there is not likely going to be any dividends.