Administrator report 23 May
https://www.ppbadvisory.com/wp-content/uploads/2017/11/STARGROUP-Supplementary-report-20180523.pdf
Proposed reconstruction appears in Section 4.4 page 10
Preferred bidder is Otsana Capital ( perhaps on behalf of a client) . Their website is https://otsana.com/
Existing SGL shareholders own 7,274,756 shares.
Otsana will subscribe for 50m shares at .02c and $50m to cover reconstruction costs. They will issue 50m options. This will pay out the creditors in full for $755,000.
By my take on the situation that leaves $245,000 in cash with undiluted shares totalling 107,274,756.
Ie a net asset per share of $0.0023 per share - 10% of where they last traded.
happy to stand corrected
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