CMY 0.00% 0.5¢ capital mining limited

ASX Annual Listing Fee, page-10

  1. 767 Posts.
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    Assuming the listing fees get paid then - as there is now a DOCA (Deed Of Company Arrangement)...

    CMY will likely be scrubbed down - all assets sold and all debts paid off (monies owing to other companies) under this agreement.

    CMY will then be put up for sale, someone may offer $1ook or and buy up an ASX listed company (shell) - CMY will have not much left after the administrators getting paid out.

    Then the new CMY Owner/ Board will have one look at the share registry and think...
    "Wow, 1 Billion shares outstanding, lets consolidate that"

    They won't care one bit about current share holders - no reason to, we haven't done any favours for them and they don't owe us anything for being 'loyal'.

    Consolidation say 10,000 to 1 or whatever (that's just an example). So the registry will then show may be 100k shares outstanding.

    In this example, if you have 500k or shares, it'll be 50 shares. At $0.005 that's like 25c.

    The new CMY, new Board etc will then probably change the name, brand, and direction and launch a Capital Raise to get some cash, - issue say 500m of shares further diluting you're then 25c holding.

    Like Pro Capitalism says, for current holders your shares are worthless.

    A 249D IMO was the only way that us current holders could salvage something out of this mess. But, like myself, not worth the effort for most here.

    Cheers
    MSN
 
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Currently unlisted public company.

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