my bad....only got 10 fingers. fortunately i can quickly change the count to 11 as i just noticed through the holes in my socks i also have 10 toes. If we continue the apparent positive news I'll run out of toes....then what?
Obviously you find the arithmetic a bit challenging. All you have to do is divide the 45 million by 9 = 5 million shares.
This is a very good deal. In addition to the legal overhang, the fact they had approx. $75 mil. in debentures coming due in 11 months time was putting a damper on the share price. Now they have given themselves a 5 years and two months breathing space. 45 will come from the new debenture and the remainder in effect from the sale last year of their periferral properties, that was temporarily used to pay down their bank line of credit.