Muss, I cant argue with many of the comments youve made .However I cant figure at times whether you are pro the ASOF share dilution or that you just believe it is inevietable and that ASOF notes/share conversion is the best outcome for the shareholders ?
Does anyone have some idea whether there is a limit for the number of times a creditors meeting can be adjourned for or if there is any time limit to have the meeting . Also does the Administrator have the power to put MST into liquidation ? I would ring the Administrator myself but that would be common sense.
I guess it was unlikely with the company debt and large amount of shares on register that there were no better offers other than the Pinder proposal. That may not be the case in liquidation theres no way of knowing in that scenario, however I still think it would be the shareholders best chance of some return if any offers were greater than the company debt. If there was no competition for bidding for MST in liquidation then the company was not really worth much in reality to my thinking.
I can only speak for myself I have no confidence that my shares would ever be worth anything significant following dilution at 95% or what ever the figures were. In the event of no better offers I am thinking liquidation is the better outcome.
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