From ASIC.
"The voluntary administrator has all the powers of the company and its directors, including the power to sell or close the company’s business – or sell individual assets – in the lead up to creditors deciding the company’s future.The voluntary administrator is also responsible for reporting to ASIC possible offences by people involved with the company."
If I had deep pockets and owned 63% of a company that has significant assets, and also had control of the board and executive management for more than 10 years via my own employees, the last thing I would do is appoint a VA and willingly give up control of my own destiny.
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Ann: June 2024 Quarterly Activities Report, page-10
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3 | 99289 | 0.135 |
6 | 94377 | 0.130 |
1 | 3963 | 0.125 |
2 | 8621 | 0.120 |
Price($) | Vol. | No. |
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0.145 | 4125 | 1 |
0.150 | 140338 | 6 |
0.155 | 18648 | 2 |
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