ABC Corp Debt Restructuring Plan
Assets.-
ABC currently owns:
1 .- The Village Hotel .- A 4 quadrats hotel in 1-SE-V13 , Founded in 1506, almost 500 square meters built and 30% luxury, a 2 story guesthouse with large rooms prepared for an eventual *** Upgrade, and a House Tavern. Royal Design.
It enjoys a 207% Hotel Pool and has 1 MGR2 and 1 ASS2, COOK3 and BUT3 amongst other employees.
2.- The Stone Village *** Hotel & Casino,- a 4 quadrats Hotel and Casino in 2-C-B1 , Founded in 1532, 846 sqm, and Luxury 40%, also of Royal Design, and it enjoys a 493% Hotel Pool.
Liabilities.-
Currently the balance of ABC at the bank is (180) Millions. This last year it has earned 1.2 Millions, but before the Servant rehaul and all this last days of stallment, it has been netting 6-8 millions per year.
After a session with the great manager of Stoneton Workforce Services, ABC has cleared some unprofitable or misplaced workers, and netted 14 millions in the process.
The Bank has declined to re-mortgage the outstanding debt in this distressful years, so ABC needs either raise about 180 Millions or else sells via auction the Village Hotel.
For the capital raise, we have thought to offer again shares for ABC , first to current owners, and with the right to subscribe them equal to current holdings. the shares offered will be then 18 shares at 10 million each. If high demand is deemed, we can raise the number of stocks only if current owners want and agree, to be sold to them.
Thus, Lord Paulson and Tefer , as the main responsibles of this situation, have commited to subscribe the offering if deserted. The best turnout should be that current holders will pick 2-4 shares each so the dilution doesnt affect too much.
Lord Paulson has put his CEO position at disposition of the board, if someone feels it can devote more time/skills to keep this ship afloat.
For obvious reasons, current dividend gets postponed, but not cancelled, until we leave ABC clean and debt free, as its my vision. I really think both Hotels are well located and can be a steady stream of value to the shareholders in the days to come. We are still in Beta Phase and we should take care of all this early investments to reap the rewards later.
Thanks,
Lord Paulson,
ABC CEO
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PS.- As one of the initial senior holders have sold their stake, this should be fixed soon. Any newcomer is welcomed as well, i will be (again) almost-perma-connected to the IRC channel. See you all there!
