Ann: Update on Strategic Process and Financing, page-19

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Pdiz

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19/05/24

07:49

Post #: 73897611
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Originally posted by Holdtight: ↑

@Pdiz, its not coming back on the asx i am afraid to say. They have only 1 director left and he is the chairman, largest shareholder and not Australian. Thus they would need to file their audited accounts ( Auditors wouldn't sign off on this without a major cash injection ) and they need to find 2 Australian people willing to be directors!! Not going to happen as it stands now. Plus the 11.5c cap raise they did was mainly to management and internals. Shaw and patners could not sell the story with a shareholder that owns 75%.

Having said that, there is a great business here for someone with a solid balalnce sheet. The polishers and grinders are world best. The repairs and service business as a stand alone is profitable. All that is required is someone with the vision to see how this could be making 100s of machine sales in the next few years as US fabs are fitted out.

I still believe they will get north of 20c ( including loan repayments ) for the assets of the business.

The clock is ticking though... 30 June SQN loan is due to repaid in full with accrued interest.

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Interesting! I had no idea about all that. I guess at least we have that deadline to work with. And if it doesn't come back to the asx we will be stuck until our shares are bought out, whenever that may be...

RVS Price at posting: 11.5¢ Sentiment: Hold Disclosure: Held
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