AAM is now to be officially recapitalised! An injection of funds into the company @ 2.5c per share, a SPP @ 2.5c per share, wiping out of all debt (and debt to Watpac was negotiated at a discount, as we know). Also, Stone on the Board to assist in enhancing their investment- all good, I reckon.
With a current SP of 1.9c, we're now @ 25%-30% discount to the SPP price. It will be interesting to see how the market responds to this new potential. A company without debt, and with fresh capital to undertake its programs.
This was the ANN we needed. Company turnaround time! If ever there was (and is) a company that's beaten up, it's this one.
Any AAM holders left on here? I'd be interested to hear your thoughts.
Ann: Results of Meeting , page-2
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