RE: For Those Still Holding1 May 2021 00:31
The RNS says "in exchange for the issue of ordinary shares in the Company (the "Exchange Shares") comprising 95% of the fully diluted pro forma equity of the Company immediately following the Restructuring." It does not say that the bond holders will get shares equal to 95% of those in issue now, but 95% of the fully diluted equity immediately following the restructuring. I don't think the market has fully comprehended this. It looks clear to me, but maybe the company should clarify, as people seem to think otherwise.