I am writing this letter as a concerned shareholder. The reason this letter is being sent to both the SEC and The Federal Reserve Bank is that I am uncertain as to the governing body for such matters. Any help that you can provide me with will be greatly appreciated.
My situation is as follows:
GOLDEN, Colo., Nov 6 (Reuters) - "Boston CHICKEN is working to reduce its current debt of over $900 million by nearly two-thirds and hopes to swap $627 million in convertible debt for equity."
SOURCE: Boston CHICKEN, Inc. / Company Press Release - ``As part of our reorganization, we are working to reduce our current debt of over $900 million by nearly two-thirds. We hope to exchange our three issues of subordinated convertible debentures, totaling approximately $627 million, for equity. A reduced debt burden, the recent closing of underperforming restaurants, continued efforts to improve operational performance and our strong brand image are the cornerstones of our plan of reorganization,'' said Lawrence E. White, Boston CHICKEN executive vice-president and chief financial officer.
My questions are these:
I apologize for the sloppy structure to this letter, but I am concerned that time may be of the essence... and my ownership may disappear before I have a chance to take action.
Thank you. I shall await your advice.
cc: Lawrence White, CFO Boston CHICKEN