Shareholder Information Post ASX Delisting, page-161

Mate it's all still up in the air due to the FWs in the Junta, the Aus tax office yet to give ruling, and then the companies trying to figure out effective ways to return money to holders and not the taxman.

What you get from LLL will depend on if they find a new project and relaunch the company - then it's anyone's guess but the stampede out will surely make them valued at much less than whatever the market will typically value the project and you might have to wait yet longer to get reasonable value. But if not and they shut up shop I think there are few that have calculated about a 42 cent total return based on the offer and cash.

What you get from FFX remains to be seen, they are going to get the first LLL tranche 1 payment for the LLL shares they hold as they won't manage to return the LLL shares to us prior is what is likely. They still need to give the ATO $27 million, and Leo $11 million from memory so will be using some of that tranche 1 payment to cover the debts as cash on hand isn't enough to cover. After that they'll likely give us our Leo shares back and whatever cash is left laying about.
From memory the Leo tranche one payment they are looking to return is going to be about 13.5 to 15 cents per Leo share. Of which we'll have to pay income tax on unfortunately by the sound of it.

I reckon if you work on the proviso you eventually get 40 cents worth out of Leo and 3.5 worth out of FFX you won't be far off the mark. But realise these two companies are deadset bloody cursed and it might get worse than that.

We all await confirmation, not a lot has given us certainty in the time you've been away.


All in all a total flustercluck.