This is an extract from the latest letter to shareholders:
The Underwriting Agreement requires BrisConnections to use its “best endeavours” to pursue defaulting unitholders for a period of 6 months after the call payment date (29 April). Accordingly BrisConnections’ efforts in pursuing defaulting unitholders will be judged by the underwriters against this standard and if the underwriters form the view that BrisConnections has not made sufficiently concerted efforts to obtain call payments, they may have certain rights and remedies against BrisConnections. Brisconnections intends to seek the guidance of the underwriters in seeking to determine what is necessary to satisfy the underwriters regarding our obligations under the underwriting agreement and in the absence of instructions, will exercise our legal obligations against defaulting holders.
So does that mean if they don't get any money from you within 6 months after the call payment date the debt will be extinguished?
BCS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held