I can only assume that their main interest is in providing debt financing. The equity stake has probably always been a foothold to debt financing. Capricorn aren't going to raise $100M in debt and another $50M in equity on good terms with the current capital structure.
The language in the CMM response seemed to be fairly pointed and that the board wasn't going to take a path that was solely in Hawke's Point's interests.
Ironically this whole situation probably could have been avoided if RRL had kept its original cornerstone stake.
I can only assume that their main interest is in providing debt...
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$6.39 |
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| Price($) | Vol. | No. |
|---|---|---|
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