GMC gulf manganese corporation limited

Ann: Appendix 2A, page-8

  1. 2,015 Posts.
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    Not sure that I agree that it’s payment for organising the loan.
    There appears to be two separate payments, one for 2,833,334 x .006c = $17,000 and another for 4,000,000 x .005c = $20,000. The fact that there are two separate amounts means they could either be going to the same person for services rendered on two separate occasions or two different entities for two completely different services.
    I doubt anyone organising the loan would accept their payment in shares same as mortgage brokers on home loans, it’s got to be cash, and I also doubt the amount would be that low for organising an AUD$80 mill loan.
    More likely it’s for someone “helping” push things through the Indonesian bureaucracy if you know what I mean, only this is a legal way of doing it. AIMO DYOR
 
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