Exiting shorts?

[klapka]

How will someone exit a short position if the share does not relist as it was? And if it does then there would be bid and offer sides and therefore a price for those shorters to cover? Trying to get my head around this.

[SimonPB]

most of the insto's have already exited off market .. otherwise they have a liability to the liquidators .. new shares will not be same abl shares, so that moot

[TheInvestor]

Simon, and what about normal equity holders? Took a gamble and bought a couple thousand shares at 34c. Is it safe to assume that this is a write off? Or is there a possibility, that in the new entity for the "good company", I will still have some value?

[partridge]

You've got an invite to the Ball but you have to pay at the entrance

[klapka]

That's interesting as this query was from a friend who stays outside the country 75% of the year. He said he has a big short position. I assume as he asked me he still has it and surely his broker would have advised him as you say here?

[SimonPB]

most likely the existing ABL shares will be converted to rights to buy new shares in the newly listed co .. but importantly you will have to pay for those new shares, they won't be free ..

[G_V_V]

So what do you think the rights offer will be worth?

[koos2]

Zero, thing is tainted.

[manere_fortis]

Are ABL derivatives still worth something? Interesting view expressed by OST consultant today. He said that the consensus view at OST is that though ABL shares are worthless, the derivatives, if still held, will be applicable to the new shares issued. Doesn't sound right to me, but that is what he said.

[manere_fortis]

Are ABL derivatives still worth something? Interesting view expressed by OST consultant today. He said that the consensus view at OST is that though ABL shares are worthless, the derivatives, if still held, will be applicable to the new shares issued. Doesn't sound right to me, but that is what he said.