Forced VA by M & G on a threat to directors. Essentially a manufactured VA to cut shareholders out of their equity. Once VA occurred, M & G noted business as usual and confirmed they would continue to support the company (so why did they remove in June). Highlight that you were not as fortunate as Lazard with the knowledge on what was going on, otherwise you would have cashed in your holdings knowing they were planning to dust the company. I think the secondary VA report confirms that the VA event was the letters the directors received. I do not think they had the power to renege on a guarantee that had not yet expired but they did in order to make ten worthless under administration rules.
TEN Price at posting:
16.0¢ Sentiment: None Disclosure: Held
