Big Dave T wrote:It's likely to re-shape the company somehow isnt it. Not sure how i'd feel though as an existing shareholder if your shares are ultimately watered down by this move. I'm guessing the major shareholder must have had to agree with it.
Interesting point. I assume that there has to be some fair way of valuing the debt relative to the value of the company, or that the share issue would have to be open to the public/all existing shareholders. Otherwise an unscrupulous board or major shareholder could turn a £5 loan into 80% share holding or some such. None of which pertains to Hull KR, of course.
The figures are more encouraging, especially given the general economic climate. With Sportingbet coming on board hopefully we'll see further improvement in the figures for this year. Still a distance to go, but easier to imagine Hull KR surviving in SL (if not quite ready to thrive yet) beyond the tenure of this board.