Morila SA is a Malian Public Limited Company, so shareholder's...

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31/03/23

19:27

Post #: 67075531
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Originally posted by GTMGray01 ↑

Note 33 Contingencies
The directors have considered the possibility that Morila SA or its creditors might take legal action to attempt to compel the Company to meet Morila SA’s liability. It is the position of the Directors that Firefinch Limited is not a signatory to any of the operating agreements of Morila SA and there exists no formal funding agreement or Deed of Guarantee between Firefinch Limited as a majority shareholder, and Morila SA, that would require Firefinch Limited to either continue to fund Morila SA, nor meet its debts. As at the date of this report no legal action has been taken against Firefinch Limited.

The Group believes it is highly improbable that a court will place such a liability on Firefinch Limited. On this basis no provisions have been recorded in respect of these matters.

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Morila SA is a Malian Public Limited Company, so shareholder's liabilities are limited. As long as the company didn't sign any agreement or guarantee, FFX's liabilities to Morila SA, should be only limited to the capital it injected.
All imo.

FFX Price at posting: 20.0¢ Sentiment: None Disclosure: Not Held
6 Upvote

0 Great analysis

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Morila SA is a Malian Public Limited Company, so shareholder's...

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