An epic journey during which the company’s board has resolutely destroyed shareholder value in four years. As a former shareholder, I am still interested in whether the journey will eventually end in liquidation or if the story will somehow continue without it. Starting a process of begging for more time for a bond doesn’t guarantee anything yet. One would think that bond investors will demand a lot, perhaps even ownership/control of the company’s operations, while the opportunity presents itself. It is likely that their trust in the current owners and management is gone as well. Those 0.35% / 0.15% “incentives” are certainly not enough.
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