Im flattered that some posters on here believe that funds managers make their decisions based on my hotcopper posts.
My posts are simply based on corporate finance theory that would also be possessed by any informed market participant.
Funds managers would not need to refer to my posts for application of corporate finance principles
JC failed miserably to understand that noteholders and shareholders have a different risk return profile. To expect noteholders to take on equity type risk (i.e. no interest payments and repayment of principal contingent on a sale) but not offer them equity type return (i.e. conversion ratio that only kicks in if the sale was above US165M as per Strachan) made an absolute mockery of the intelligence of noteholders.
For those that suggest Aurora Funds Management were the reason for AZZ's demise need to go back and understand corporate finance 101. (Refer to risk/return characteristics)
AZZ Price at posting:
50.0¢ Sentiment: None Disclosure: Held
