You would extend the maturity if the Note for a further 2 years if you didn't want to send SDL into administration. Even if you didn't want to continue to have skin in the game. The note holders had NO CHOICE. Any implication that the extension is some form of "vote of confidence" in SDL is nonsense, and, as I have said previously, misleading.
Accounting 101 - the loan in the lenders accounts is not a liability - it is an asset. And I am certain they will have raised a provision offsetting the "asset" which is of no value - ie written it down.
SDL Price at posting:
0.3¢ Sentiment: None Disclosure: Held
