SP1 0.00% $1.07 southern cross payments ltd

New Offer for ISXFEU, page-17

  1. 1,180 Posts.
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    Bankrupt: no. You dont get to jump in a backdoor or anything. The company gets wound up by a liquidator and you have no company any more.

    Even if we didn't get wound up, we are not a back-door listing target. For a back-door listing, you want clean, empty companies. Companies carry their past liabilities and a company can be sued for actions of previous directors, etc., so a company with a history of being sued by ASIC is not one you'd consider.

    Even then, backdoor listing sounds fun, but its not like you get a front row ticket to another company. Usually in a backdoor listing, old shareholders get consolidated into a tiny fraction of the company. Might do a 1-for-100 or 1000 consolidation and then issue millns of new shares. Youd end up with cents worth of holding.


 
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