Yes, that return of capital would be a doozer- if in fact it was to happen. Not likely, in my view- this from the ICP ANN 3 weeks ago:
PROPOSED RETURN OF CAPITAL
On 26 June 2012 the Board of iCash announced a proposed return of capital. Later on the same day, the majority of that Board resigned. The newly constituted Board of the company, being Ms King, Mr Charlton and Mr Ham, is re-assessing the proposed return of capital. Further information on this issue will be provided following the Board’s review of audited end of year accounts and an assessment being made of capital requirements moving forward following the proposed One Company Transaction. It is not expected for any return of capital to be announced before the terms of the One Company Transaction are more known. ____________
The market cap after today's rogering, is $4.6m.
I've just looked at ICP since it plummeted today- just one in a series of plummets that I can see from viewing the HC graph. I don;t know how much it will cost to buy Neo, but I am guessing some dilution and perhaps a capital raising? That's just a guess, but I wouldn't discount both. I am going to put the basket case on a watch list. Clearly some holders have been disaffected to sell this down to 5c.
STL Price at posting:
5.0¢ Sentiment: None Disclosure: Not Held
