storm's metal fatigue despite its $2m-plus ..., page-3

Agreed Patrolly,

Just repeating my post on another forum:

From the announcements I feel the noteholder approval is a fait accompli:

5. Harmony Investments’ intentions

As noted above, Harmony Investments is the beneficial holder of 97,902,659 Existing Notes. Harmony Investments has advised the Company that it intends to:

(a) direct its nominee to vote in favour of the Resolution; and

(b) if the Resolution becomes effective, to elect to hold Secured Notes instead of Interest Bearing Notes.

6. Factors to consider

The Directors do not believe there are any advantages in Note Holders voting against the Resolution.
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I know nothing is certain in the business world but we have all witnessed how painfully drawn out the military procurement process is, even to try and sell the IP would be a drawn out legal affair; to initiate winding up procedings at this stage would most likely be suicide for the the noteholder's investment.

Most of these "journalist's" reports and business stories are either a cut & paste of the announcement or a shallow interpretation of the circumstances... just so they can meet their quota.

Cheers,

Zia