Replies to post #16990 on Global Brokerage Inc. (GLBR)

[Crusen]

They have 2 years to repay the loan. The loan term is 2 years, in other words.

Starting Jan '16 LUK has an annual right to force a sale.

This is irregardless of loan repayment, and completely seperate.

All assets of Holdings, FXCM's sole source of income, is tied up in Newco.

The equity agreement is extremely punitive to FXCM shareholders, who can expect to be left with about $0.5 per share of value.


Robert Lande, CFO, once more, the relevant excerpt:

No, the right to -- it's annual right that starts in three years from January '16. And then have the right to, can trigger a sale of all or a portion of the business and it is not tied to whether the loan is repaid.

http://seekingalpha.com/article/2998256-fxcms-fxcm-ceo-drew-niv-on-q4-2014-results-earnings-call-transcript


It would be nice if FXCM boosters would at least acknowledge this fact instead of denying and ignoring it...

It radically changes the math here.