Accuracy Please!
Shame on you Vainbone. Investors have not pulled out. You need to (nay Must) be much more precise and careful when commenting on these important matters.
Here are the facts:-
Quote "Silverjet today announces that TFB will not be converting its £10 million
convertible loan into new Silverjet ordinary shares at 60 pence per share.
As a result, TFB forgoes its conversion rights whilst Silverjet still benefits
from the £10 million loan on highly attractive terms of LIBOR plus 200bps until
it is repayable on 17 December 2009.
TFB said:
"Because of recent market conditions, we have decided not to exercise our right
to convert our loan to Silverjet into equity. Instead we will continue to work
with the company and monitor its performance going forward. We continue to
believe the company has a sound business model and excellent prospects for the
future to become a major player in the global aviation business."
NB: 'Right to convert'!
SJ Share price largely a function of present Stock Market conditions.
SJ will be fine. Wait and see. You have to take the big picture into account.
Well said 8ache.