They had to get funds from somewhere Towie. But they've been operating for years on debt finance and my question is about the type of funding that they have used this time with CNs. They are debt @ 15% p.a. with high ranking over the entire assets of the company.
Previous CRs have just been for shares, which in LNY's parlous financial state, would have been worthless in the event of something nasty happening.
The thing that is nasty now is the lack of transparency and all the conspiracies that that always stimulates. Just more knocks to what little value still exists in shareholders' investment in the company.
LNY Price at posting:
0.3¢ Sentiment: None Disclosure: Held
