Summed up beautifully by Paul Scott yesterday21 Aug 2019 08:03
This satellite operator was an obvious basket case, for years, due to massively excessive debt, and trading losses. Shareholders were diluted by over 90% when the bonds were converted into equity. Given that the bondholders own the bulk of the company's equity now, there's little free float, hence no point in maintaining its listing.
Therefore it has decided to delist, becoming a private company. Therefore investors who cannot hold shares in a private company, will need to sell up for whatever they can get in the market, before the shares delist.
The last day for trading in the market is expected to be 17 Sept. That's one less rubbish company for me to report on, so I'll be glad to see the back of it.