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Ann: Appointment of Receivers and Managers, page-108

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NZAinAsia

530 Posts.

42

19/04/22

09:46

Post #: 60904169
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Originally posted by No_8: ↑

The listed company is in admin. Listed BUD owns all the operating subsidiaries which have not been placed in admin. This will allow the subsidiaries to trade normally without disruption while the administrators hopefully sort out a recap deal. Certainly will see massive dilution for current BUD shareholders but we may end up with some crumbs?
At least this time the numbers will be critically examined by independent experts before any deal is taken to market. If the BUD forecasts pass the test of independent experts we should expect something positive to flow.
The biggest positive is chair and DM no longer have any control over the BUD business.

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The thing that keeps niggling at me is that we are only talking about AUD 16 million of debt owed to PFG

It's tiny.

Even a small family office in Sydney can afford that.

Rick Borenstein should tap his US venture capital contacts to recapitalise and pay PFG out.

I would be surprised if this was not currently underway.

Last edited by NZAinAsia: 19/04/22

BUD Price at posting: 0.6¢ Sentiment: None Disclosure: Held
2 Upvote

0 Great analysis

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