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junkmanlong1

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junkmanlong1

Re: Olde English 800 post# 1119

Thursday, 10/27/2016 1:27:55 PM

Thursday, October 27, 2016 1:27:55 PM

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olde english

The debt equity swap is only to the Senior note holders which is $984 million owed.

They are getting $285 Million in cash, a $60 million new note, and around 77 million in new shares.

They will have around $1.2 billion in debt when they exit. The company will be valued at around $5 per share after BK.

This page explains the breakdown.

http://s2.q4cdn.com/676528692/files/doc_downloads/Restructuring/august/PGN-Final-Revised-Plan-Press-Release.pdf

JML

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