The effect of this decision and its ultimate outcome goes far beyond ARI.see later comments
Consequently until now ARI Shareholders have been placed at a commercial disadvantage compared to those potential businesses attempting to buy assets cheaply from a COMPANY they STILL OWN that is
STILL LEGALLY UNDER VOLUNTARY ADMINISTRATION.
and NOT LIQUIDATION.
Shareholders who's ongoing complaint has been,with having potential new directors in the wings and a desire to produce a comprehensive DOCA have had no access to current accounts or state of the ARI nation on which to make their own commercial decisions,or persuade those directors to publicly commit,nor arrange financing.
Especially now the shareholders group has started receiving support from some fund managers,some of whom are foreign based and may start to consider Australia a no-go as far as shareholders equity rights are concerned and stop investing as a result of the apparent change of sovereign risk.
About time some asses have started twitching in seats about the inequity and in-compatability with Australian public listing rules and maybe the negative ongoing effect on the Australian Sharemarket for overseas investors future investing decisions.
Not the least should be a few government ministers that contributed to this debacle by allowing unconscionable dumping while turning a deaf ear to the words of J.Maycock about the impending loss of Australian steel production.
DYOR + DYODD I have already ceased buying Australian shares.I wonder if the Singaporean Sovereign Investment fund has done likewise,due to this shitty treatment as a shareholder in a major public company who supposedly the survival is of National Importance to Australia.
ARI Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
