The TTY management in their creative wisdom GAVE the 75% shareholding in OLY to Sirling Resources for $0,( YES $0 ). Part of the agreement with Stirling is that TTY will receive $1.75 million in exchange for the $1.75 million OLY debt and no interest. So we miss out on the $300,000 interest TOO. Unfortunately TTY is being managed by a pack of halfwits.
Re Matilda, it is now broke, sold all the assets to SRE for $4.8 million.
SO TTY now has no shareholding in OLY and MAL is down the tube. Pity, Andrew Simpson is a man of NO vision.
It goes to show MK is no fool, he now has 82% of OLY and 100% of MAL, TTY has nothing except a huge debt.
TTY Price at posting:
22.5¢ Sentiment: None Disclosure: Held
