If the sale is all above board, then I think we are...

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AlCp

27,705 Posts.

1788

17/04/18

00:14

Post #: 32493897
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Originally posted by Lucky Phil ↑

Hi Orabanda and to all others,

A sale of $230m satisfies the two major secured creditors - likely to be settled end of May 2018:
- Anyone can do as we recently did and call each of FH and KM for any facts, clues and clarification where and as permitted.

Yes it's a steal in today's climate of rising prices and diminishing stocks yet:
- negotiations have been going on for some time and a deal is complex to this point and still not finalized;
- nothing is illegal or "stolen" until proved otherwise - our feelings of being shafted just simply don't and won't spur a QC into a third party funded class action - proof is required and it is apparently common place (and very legal) for even the secured creditors to acquire a financially distressed business (such as MBN was and is) at fire sale prices: Although said to not be happening in this instance.

A relisting would be great and I fully support all of Mattydew's previous comments if this outcome occurs.

Without it, and without proof of any illegal activity post the 2015 suspension of MBN's listing, our best hope for any compensation lies within anything that was withheld from us by the Directors prior to this listing suspension.

Everyone's help please in reading and comparing what has been reported in detail in Ferrier Hodgson's 29 March 2016 Report issued Pursuant to Section 439A of the Corporations Act to what we weren't told prior to the 2015 listing suspension - and should have been by Director's and managers acting at all times in our best interests.

All else (and very understandably too as I do share everyone's passion and anger) is simply viewed as emotion fueled conjecture and unfortunately holds no weight nor motivates anyone else - either working for us or for the creditors - to act to our future benefit.

Some work by us now where it matters will sow some benefit - and costs nothing more than our time.

Best regards, LP

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If the sale is all above board, then I think we are goners......shafted twice, but this one stings as they did managed to get cost down but PoN didn't want to play...until now.

Last edited by AlCp: 17/04/18

MBN Price at posting: 8.3¢ Sentiment: Hold Disclosure: Held
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