denbo it seems your notion of recover is to recover its past...

denbo it seems your notion of recover is to recover its past market capitalisation and that is fair enough.

Others, me included, are interested in recover as a business and what shape that will form, not recover past investments. My interest is purely academic at this time; I'm intrigued to gain a current understanding of the company's strategy and model as it comes out of intensive care under the watch of its majority owner. If I see signs of green shoots, and those shoots are as a public company, then I could rediscover an interest investing. A big if at this time.

My primary interest today is the company strategy and operational plan, capital structure is undeniably a major part of that but for me it is whether there remains value in its business name, opportunity in its markets and the infrastructure remaining to stabilise and rebuild (including how the detached UK arm develops). Secondary interest - a fair way off- is deciding if I would like to be a part of it through investing. Clearly that secondary interest only kicks in if I'm reasonably assured of the majority holders intentions, which naturally also depends on remaining public.

If interest investing is rekindled then the past market capitalisation is irrelevant. All that would matter is forward from today. We would be looking at effectively a new company. From an investing perspective the question would be is there market beating return potential? Recovering past losses is redundant, it is of no consequence to future investment decisions.