Originally Posted by
Snoopy
If you take Jenny Ruth's June 14th Article on Sharechat at face value, the real position is that PGW forks out $2.5m in cash to be rid of its finance division! Basically PGW keeps the bad loans and provides a $30m guarantee on some of the not quite so dodgy loans after they are sold to Heartland.
Also PGW has agreed to buy $10m worth of Heartland shares by forking out cash! To me this seems a ridiculous deal. PGW continues to bleed cash was a result when it need to do just the opposite! I will be voting against this restructuring. It X's all the boxes.
SNOOPY