Time to off-load this Mermaid, page-20

Croas,

sometimes - patience is a virtue !

one of the posted scenario's will occur .......

if banks "force" - then lots of dilution......, if they don't - then a recap is the only outcome........

get the 2 major shareholders to underwrite - and small guys can get "nibbles" ......circa 150m is my best guestimate
.....and then the current Board get shown the door .......exit stage left...

else ARI "esque" ......

I am still bewildered that it hasn't been recapped already (given the banks got an accelerated repayment scheduale in jan or so.......)....which calls into question the current punters running the ship !!!

rgds
V_H