Pie in the sky!
Really just need to concentrate on the DIP, rest is noise.
Imo these shareholder provisions orig were written to prevent a hostile takeover, but the orig language could now prevent a deal given the new circumstances.
I now see three possible outcomes:
1) KRY fades into oblivion
2) KRY gets (or already got) a lowball offer to go away / drop lawsuit. This is probably cheaper for Ven before the DIP financing occurs but prob wont happen until after as the ISCID case progresses favorably for KRY. And it will be low. (See what the oil giants and everyone else were offered). Terms might be more favorable with a new Venezuelan Chief of State at the helm.
3) Kry gets DIP financed. We shareholders immediately loose a big portion of what the arbitration settlement is worth but the risk for no recovery and BK goes way down. So, then we see a jump in the SP followed by a steady climb
Maybe what this is all about is the Board is trying to prevent shareholders from running to the exits if someone offers .30,.40, or .50 cents a share buyout to grab controlling interest in the Company after a DIP financing is announced? anyone?
1B award? minus the bondholders and 50% = $1.25 PPS in 2 years?
Sure I take the 1.25 now, baby.
