Disclosure: The author has a short position in one or more of the shares mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Afren Defaults, Directors Now Working For Creditors

By Waseem Shakoor

4 March 2015 03:47

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Afren (AFR) has defaulted as expected, and huge dilution is on its way for shareholders. I'm sorry for all genuine, non-abusive shareholders who are going to lose money in the company . I've been there, and anyone who has been in the market for a long time and claims differently is a liar. The Board of Directors are now duty bound to seek maximum recovery values for its creditors. Bonds currently trade at about 45c.

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Comments

AK47

4 March 2015, 04:27

Shak, thanks for your information and analysis. Your thoughts and opinions are APPRECIATED!
DUCK AND DIVE

4 March 2015, 07:11

Yes, Waseem, your articles have been extremely well informed and prescient (ShareProphets Rulez) and will surely have saved a lot of PIs a lot of money. Thank you. I look forward to your future contributions.

FWIW, my cleaning lady told me gleefully last week that she had scored £300 on an AFR day trade and was going to have another punt when the SP fell to 10p. I showed her your last article and she changed her mind.