Why You Should Switch Out Of Just Energy Common Stock [Seeking Alpha]
JUST ENERGY GROUP (JE)
Last just energy group earnings: 2/10 07:00 am
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US:NYSE Investor Relations:
justenergygroup.com
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Source: Seeking Alpha
SummaryThe company is undergoing a plan of re-organization.The common stock will undergo a 33:1 reverse split.The preferred shares and debt will convert to common, and they imply a lower price for the new shares.By selling the common now and buying the preferred or debentures, you would end up with more new shares.Just Energy Group (JEHowever, Just Energy has also significantly leveraged its balance sheet, with a few classes of debt and some preferred shares, all of which are senior to the company's common equity.RestructuringTo help deal with these issues, Just Energy has proposed a restructuring. Essentially, a bunch of debt and all the preferred shares would be converted into new shares of the company. To make the new shares tradeable at a reasonable price, it is doing a 33:1 reverse split as part of the transaction.The table below shows the number of shares various securities will receive. The subordinated convertible debentures trade in Canada under the symbols JE.DB.C and JE.DB.
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