Blue Sky Share Holders Association, page-28

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01/08/19

15:14

Post #: 39813397
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Originally posted by pikel1980: ↑

At the end of the day your not going to get the oaktree deal undone. They hired a consultant that told them and everybody that the deal was not fair but reasonable given the circumstances. Its all in the report... They went thru a process and the oaktree deal was the best they could find. The alternative was to put the company in administration then.

In terms of class action, there will not be one, you need assets for a class action to make sense and this shell isn't going to be worth much at all.

And in terms of staff trusting Oaktree, how did Oaktree betray them if they get jobs? Its just us the shareholders who miss out. Oaktree is just executing their legal rights - BLA couldn't meet theirs. Nobody has been betrayed - BLA couldn't meet their exceptions, be it stupidity, naivety, market conditions etc.

As far as Im concerned - this was a dud from the beginning and was the writing was on the wall when they could no longer raise money to pay dividends - look back at the books, the business model never worked - it was all smoke and mirrors from the beginning. The person responsible is the founder who polished this dud into a diamond, jumped ship and left shareholders with a dud.

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https://www.zoominfo.com/c/edinglassie/463125016

BLA Price at posting: 18.5¢ Sentiment: None Disclosure: Not Held
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Blue Sky Share Holders Association, page-28

Top Stories

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MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

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