"can anyone point to a clause in the prospectus fr cwnha or cwnhb that allows Crown to pay a dividend to its shareholders while interest payments are deferred?
clause 2.3.4 of the prospectus for cwnhb says that:"If Crown has optionally deferred an Interest Payment, it must not (and must procure that its Subsidiaries do not) (except in limited circumstances): – declare or pay any dividend, distribution ............ until the date on which all Optionally Deferred Interest Payments have been paid in full or all Notes II have been redeemed"
unless i am missing something, that means that crown even if privatised, it can't pay a dividend until interest is paid and it is unlikely that that will be delayed to 2072..??
CWN Price at posting:
$11.68 Sentiment: Hold Disclosure: Held
