Ann: Major USA Transaction Finalised, page-44

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Andrix

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02/01/20

09:25

Post #: 42189755
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Originally posted by grussellt: ↑

You would have to say that this announcement has seen IGE rising like a phoenix. It does however seem remarkable that lenders are prepared to advance these funds when considering the lack of success in another company involving IGE directors:
https://www.ferrierhodgson.com/au/-/media/ferrier/files/documents/corp-recovery-matters/dickson-and-dickson/total-compression-solutions-pty-ltd-s439a-report-to-creditors.pdf

3.6 Events leading to our appointment
Set out below is a summary of the events leading to our appointment to the D&D Group:
Date Event
24 November 2015 OXC Bidco acquired the shares in D&D
November 2015 – April
2016
Approximately $7m in additional funding provided by OXC Bidco to fund the D&D
Group’s working capital requirements. Additional funding provided by other Obex
group entities of approximately $385k post April 2016.
April 2016 Paul Dickson and Dianne Dickson cease to be office holders of the D&D Group
May 2016 Former COO Stuart Clark leaves the business.

I don't recall reading any reference to these matters in the prospectus but I wish IGE directors more success in current ventures.

Expand

grusslit, are you able to give details of the IGE directors who were involved with D&D? I've not the time to look into this now.

Originally posted by grussellt: ↑

You would have to say that this announcement has seen IGE rising like a phoenix. It does however seem remarkable that lenders are prepared to advance these funds when considering the lack of success in another company involving IGE directors:
https://www.ferrierhodgson.com/au/-/media/ferrier/files/documents/corp-recovery-matters/dickson-and-dickson/total-compression-solutions-pty-ltd-s439a-report-to-creditors.pdf

3.6 Events leading to our appointment
Set out below is a summary of the events leading to our appointment to the D&D Group:
Date Event
24 November 2015 OXC Bidco acquired the shares in D&D
November 2015 – April
2016
Approximately $7m in additional funding provided by OXC Bidco to fund the D&D
Group’s working capital requirements. Additional funding provided by other Obex
group entities of approximately $385k post April 2016.
April 2016 Paul Dickson and Dianne Dickson cease to be office holders of the D&D Group
May 2016 Former COO Stuart Clark leaves the business.

I don't recall reading any reference to these matters in the prospectus but I wish IGE directors more success in current ventures.

Expand

IGE Price at posting: 16.0¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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Ann: Major USA Transaction Finalised, page-44

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