CTL 0.00% 0.9¢ centennial mining limited

Ann: Update on the DOCA and Meeting of Creditors, page-4

  1. 2,568 Posts.
    lightbulb Created with Sketch. 47
    Aiken, your ctl shares will be transferred into a ctl/aul merger. But the new entity is aul. The merger occurs at one third ctl and two thirds aul but with about $6million worth of capital raise shares throw into the mix also.
    As far as ctl shareholders are concerned, to pay off all the creditors for all the loans and unpaid bills owed by ctl, ctl shares will only be worth 8c in the dollar. While some creditors loans are worth 65c in the dollar and varying different amounts. It’s all in the document linked in the Kord Mentha announcement.

    Also the new shares we get in aul are escrowed for 12 months.
 
watchlist Created with Sketch. Add CTL (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.