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07:18
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Originally posted by h00ts
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Wont PLV be screwed if they dont buy WEG out ?"If the Wise Transaction does not proceed, Wise may require the Company to resign as manager of the Joint Venture and mining activities at the Project may halt while the parties negotiate a way forward, and any money Pluton contributed into the Joint Venture on behalf of Wise during the 180 day period referred to below would not be recoverable from Wise. In the event that the Company is removed as manager of the Joint Venture, the Company may not be able to appoint its first preference of replacement manager to the Joint Venture" and ! "Further, there is a risk that the Company’s directors, former directors and other officers may not be covered under the Company’s insurance policy in respect of circumstances where the Company has not met its disclosure obligations, including due to admissions that have been made." Compliance and regulatory risk The Company lodged the Last Prospectus to raise $17,369,488 (before costs) with ASIC on 22 April 2014. That offer closed on 14 May 2014. The Company has previously advised Shareholders (see the Last Prospectus) that it has not met its disclosure obligations under the Listing Rules and as such, the Company faces the risk of regulatory action"
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How could we get ourselves in such a mess for God's sake.
