According to an executive who worked on the deal, Gaston is weighing whether to buy out the debenture holders, at a cost of about $ 54 million.
32.
Subsequently, Southern granted a floating charge over all its assets as security for the debenture issued to the public to the trustee of the debenture holders, MLC Nominee.
33.
Ponder last year sued debenture holders, accusing them of lending shares to short sellers, who sell the stock in hopes of buying it back at a lower price.
34.
Those sections show quite clearly that since 1897 a debenture holder, who holds a floating charge, can no longer sweep up all the company's property for his own benefit.
35.
The cause of this was a proposal to issue prior lien debentures to the value of ?0, 000, a move which would dilute the position of existing debenture holders.
36.
The company was placed in receivership on the application of its debenture holders in 1912, despite the business being " much more promising than for some time past ".
37.
Under the settlement, Ponder issued 10.6 million shares of common stock to the debenture holders, along with 5-year warrants to buy another 957, 000 shares at $ 1 each.
38.
After the Company's failure in 1895 it was sold to its debenture holder, John Brightling, who continued to operate the line until its sale to the "'Christchurch Tramway Board "'in 1906.
39.
Under the settlement, Ponder issued 10 . 6 million shares of common stock to the debenture holders, along with 5-year warrants to buy another 957, 000 shares at $ 1 each.
40.
The liquidator's job, was to dispose of the WHLR Company's assets and distribute any monies raised among the creditors ( i . e . the debenture holders ), before closing the company down.
