Even if i was foolish enough not to have been able to see how this would end up, I still wouldn't sign the petition! ...A bunch of cry babies who now regret their foolish decision to stick money into this knackered firm. You'll all be laughed out of the office.
Spot on Jsimbo. It's all legal and above board. Plenty of precedent too.
Unless you're a lucky day trader who has made a profit in the last few days by misunderstanding of the situation, it's not a good place to be. Cut your losses unless you believe there's a white knight who will outbid DNO.
is this for real? a petition to be given more shares? I cannot plumb the depths of this naivety. the board and shareholders are not in control here, the bondholders are. so what you are doing is asking a load of hard nosed investors, who bought very risky bonds (which tells you what sort of people they are, we aren't talking a bunch of doddery old 1% pension fund managers) to just give you some of their value (i.e. money).
And the reason given is 'it was unfair'
dear god. of course it was unfair, this is business. there is no relevance in fair or unfair. sorry, that's the reality. they got the best deal they could and they wont back down out of sympathy. the nice sympathetic ones who don't take the all the value they can from deals get weeded out pretty quickly have a special job title called 'unemployed'.
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