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Replies to post #70 on Scottish Re Group Ltd Perp Pfd (SKRUF)

Replies to #70 on Scottish Re Group Ltd Perp Pfd (SKRUF)
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h_man_investor

02/12/12 8:07 PM

#71 RE: Enterprising Investor #70

This transaction is very smart and timely by Cerberus and MM.

The preferred shareholders currently are permitted to get 2 board seats. I believe mgmt would pay out 4 quarters of dividends if someone attempted to get on the board to prevent the appointment.
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h_man_investor

02/13/12 11:32 AM

#72 RE: Enterprising Investor #70

Of course they have enough money to buy the preferreds but not enough to pay a dividend!!!