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1. They don't intend to go down the equity only route again, ever. This is a huge statement. If they pull of another deal like the recent one but use 65% debt (Graham's words) then watch this fly.
GGG ... 100%
I pulled out of this a few weeks back and re-invested in another share but this has convinced me to get back in sooner rather than later
"In summary it was about ..... and not over exposing I3E to lenders"
2) Not withstanding 1) above , to get an additional Senior Secured Lender would require inter creditor approvals. Even assuming that was possible - is it something I3E would want to do i.e. increase I3E’s exposure to senior creditors in the event of a down turn - I don’t think it was something they wanted to do .....
Interesting - seems to me that 2) is conjecture ?
Personally i don't feel the need to email anyone as i'm a LTH, i'm just saying that GGG had a perfectly reasonable objection and, as he says, you either believe the answer you get or you don't
tony, to be fair to GGG he wasn't complaining about being up, he was objecting to the way the deal was structured and i don't think we've had an explanation for that dilution rather than debt. Plenty of conjecture but nothing official ?
So i think his gripe was fair
He also was bang on so far with his prediction about II's keeping the sp down
Seems to me that if you take the 15-16p we were at very briefly as an outlier, then we’re above where we were when we headed into that spike.
But with better prospects
I’ve said it before but it’s pointless ( and unhealthy !!) to be tracking sp on a daily basis and constantly trying to predict where it will be after certain news/events