Ann: Company Update, page-3

I agree Johnston has his henchman Hardy bringing out the stick to coerce those holding out to sell. What is the downside to holding out? If JJ gets to 90% he'll pay you out as per the bid, albeit you'll be dragged kicking and screaming to take the cheque.
On the other hand if he doesn't get to 90%, you can go for the upward ride if he can stall the company from its death throes and actually turn it around.
Or can he dilute your ownership because of the senior debt he holds and the consequences that will ensue should the company not meet its repyament covenants?