RE: Ocean Wilsons plc22 Sep 2025 17:54
The cln was used to reduce debt, which we still have a fair bit of. Interest saved at the time of issue to the talks and sale completing probably helped the bottom line. Also talks can fall through and nothing materialise and we are worse off for waiting. If we do offload more stuff thg could choose to pay Matt off and take the cln out of the conversation. He can convert in Dec though and the dilution is pretty much a punch in the face at this point, so I hope he keeps it in his back pocket as something to use if he needed to increase his holding for control reasons.