Yes, I am with you, and have recently bought more. But it does all depend on the price at which the recapitalisation is struck.
In existing shareholders favour, shareholders will have to approve any recapitalisation, so it will have to be half way decent; half of the company is currently owned by Hedz receivers, and I cant see that they will agree to anything that is not in shareholder interests.
Against that, the fact that with 39 per cent of the debt the new consortium can effectively veto any alternative sales, so there is nothing the board can do to introduce any competitive tension.
RPF Price at posting:
12.0¢ Sentiment: LT Buy Disclosure: Held
