Ann: MRM - Trading Update, page-82

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zhanginu

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08/05/15

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Post #: 15238950
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Originally posted by asteroider ↑

If the board blindsides retail shareholders again and announces such a measure ( a dilutive capital raising) is it possible to throw the board immediately or immediately put the company in the hands of administrators to forestall such an action before it happens or is it that once an 'accelerated placement' is announced it is legally binding and hence too late.? Arguably placing the company in the hands of an administrator with instructions to sell the company and return the proceeds to existing undiluted shareholders would have a much better outcome? Given the last announcement 10 minutes prior to open, maybe trust is wearing a little thin and the best option would be to attempt to spill the board for good measure? Any 5 percenters out there?

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How can any lender appoint? They (mrm) are not in breach or default. Even if they breach the banks would generally reset the covenants for a fee and watch closely.

Also why would they raise capital if they have $100m plus in the bank. Worst case is they hold back some dividends imho

MRM Price at posting: 64.5¢ Sentiment: Hold Disclosure: Held
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Ann: MRM - Trading Update, page-82

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