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DownWithPumpers

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DownWithPumpers

Re: TeamTOC post# 59495

Thursday, 02/23/2017 3:19:13 PM

Thursday, February 23, 2017 3:19:13 PM

Post# of 63744
if that was going to happen it would've happened the day it was announced that the company was going to dilute like crazy to eliminate some debt.

The vast majority of the dilution is not reduce debt. It's to enrich the preferred stockholders.

Holders of the Exchangeable Preferred Shares and the Gold-Linked Preferred Shares would exchange such shares for Common Shares (representing in aggregate approximately 60% of the Common Shares

Most of the debt is being rolled over to new debt with a maturity debt farther into the future. They're being given stock in addition to debt.

Each holder of the New Notes will be issued 575.11449 Common Shares



http://finance.yahoo.com/news/banro-announces-execution-support-agreement-155923743.html
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