Legends Thanks for your reply note I did say they have done a fantastic job bringing it this far, maybe they just need some help to jump the final hurdle. In no way do they deserve to be pushed to one side but they could consider supporting an unbiased negotiator to bring it to a conclusion. As you point out It could all come good but I / we have been waiting a long time procrastination no longer fits the bill
CC '...he bondholders already insisted that the company re-write it's articles of incorporation and have demanded that any future director appointees submit an undated letter of resignation upon appointment.'
Here here to that & IMO should, if implemented, be extended to ALL top level directors ie CEO & CFO plus all NEDS!
Funny you should mention heads of agreement, weren't you promising that 18 months ago?
Kevkan, the bondholders already insisted that the company re-write it's articles of incorporation and have demanded that any future director appointees submit an undated letter of resignation upon appointment.
It's entirely possible, given their strong hand, they will insist upon board level changes as part of any bond renegotiation, but that all rather depends on their attitude towards current company management, and we won't know until anything has been decided!
That's right! Because in the topsy-turvy world that is inhabited by Xcite shareholders:
no means yes. no additional collaboration means yes, lots of secret collaboration but, obviously, we can't tell anyone about it, so we'll just deny everything. The less time the company has to find a partner and pay off the bondholders, the more reassuring it is.
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