Graham and tap dancer .Why do you argue you are throwing away...

Graham and tap dancer .

Why do you argue you are throwing away $245m of money when you never ever paid $100 for your hybrid holdings

You say you are a top 10 holder of Hybrids but do not appear in the top 50 original holders of the notes so clearly did not pay $100

If my guess is correct I suspect in both cases most of your holdings have been accumulated when you knew exactly what you were buying in to

I also suspect that most in the forum and on the pigs commitee and are part of the coastal holdings group would be in profit on accepting 250 shares for each note you hold today .

What is the average cost base of the notes held ?

If the share price was to rise to 7c ( $17.50 per note )and 10c $25.00 per note somewhere it hasnt been for a very long time .

Not only that , if Hybrid holders accept they have control , and could then kick out the board and try repair the business better than the current board are doing , and the share price might go even higher

I think the current board hold less than 5% of the shares with friends holding maybe another 20%

Hybrids would hold 54%

I suspect tapdancer and many others who are also probably in profit yet cry poor are doing this for the reasons Kareful does mention

Surely the new board post Boon, Marchant and Meikeljohn must be pulling their hair out trying to negatiate win win solutions when their won shareholders have lost 98% of the value intheir shares since the Hybrids were issued yet tye people trying to stop then are not those that have suffered the greatest loss in the hybrids but new parties being opportunistic

At least this board is not just ignoring hybrids and are trying to turn the business back in to the black and reduce the incredible waste that appears to have occured under the Miekeljohn then board regimes .


If most note holders elect to reject the offer so beit I for one will be accepting 250 shares for my notes that Paid as much as $30 for but by incrwasing holdings now have an average cost of about $11 each .

Tapdancer and Graham what is your average entry prices ?