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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SargeK who wrote (50858)9/10/1999 11:56:00 AM
From: Area51  Read Replies (2) of 95453
 
Sarge,

Thanks. Do you know how much dilution is going to occur. My thought is that if the senior note holder are generous and allow the existing common holders to keep 10% ownership and accept just 135 million shares for the $300 million senior notes that HMAR might be interesting. But if they dole out shares at the going rate of 0.50 per share and issue 600 million shares then I don't see much upside (other than trading bounces). (I'm just going from memory on the $300 in senior notes, so please correct if I'm wrong)

Garry
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