how many shares will it take ?, page-8

actually I would rather have them sell Gazonor at original purchasing price (EUR26m) rather than extend the maturity of the notes since the CMM operations at Gazonor wil never be able to generate enough FCF to repay the principal amount of the notes.
We all know the upside potential on the CMM operations is limited and the real upside for this company is on its unmatched CBM portfolio in France. So I would rather like them to completely clean the BS even if it means issuing more shares and selling Gazonor or possibly another asset.

Bart