And the vote is also required because BNB is a related party,...

And the vote is also required because BNB is a related party, that is the main reason a vote is required.

I would much rather bonds than dilution, even though bonds could eventually dilute, hopefully before then it can be paid out or the share price is significantly better, which will require them to secure their financing over a longer term and also improve operational performance.

They really do still need to focus on offloading some assets in my opinion though and get the gearing down before it will have any chance of being genuinely rerated.

I do think though it becomes more attractive to potential suitors if the debt is extended for a reasonable amount of time as the company will be far more stable and have less issues with the potential of failing due to short term debt defaults.