Quote Originally Posted by Tony Two Gloves View Post
I personaly believe the note holders will lose everything as eventually the interest on these notes will become untenable. It is almost impossible for shareholders to exit and who would be brave enough to buy at any price. If they cashed up their assets they would still be at least 3 - 4 Million upside down which I guess is why the SP is where it is.will be looking at....
Vote No on NZF's proposal to convert NZF020 notes to shares and put NZF into receivership would result in a return of a few cents per dollar to noteholders. The shares would be no value at all. Refer to announcement below.


NZF
26/03/2012 16:46
S/HOLDER

REL: 1646 HRS NZF Group Limited

S/HOLDER: NZF: NZF Group Limited (NZF) - Market information

NZF

MARKET INFORMATION

26 March 2012

NZF Group Limited (NZF) - announces it is in discussions with the trustee to
review interest payment on Capital Notes (NZF 020)

?NZF announces that while the Company has an excess of liabilities (including
the capital Notes) over assets of circa $4m, it has sufficient cash to pay
interest on the notes for at least the next 18 months if the Company made no
new investments. Regarding the notes, the Company has started discussions
with the trustee (Perpetual Trust Limited) regarding the payment of interest
and a conversion to equity, and whether a proposal will be put to
shareholders and note holders in the coming months. In addition, NZF does not
expect that sufficient cash reserves will be generated between now and
maturity of the notes in 2016 to fully redeem them for cash, meaning that the
notes will convert to equity.

ENDS