Ann: Application for quotation of securities - CLZ, page-93

IMO:

No company would take over CLZ while it has such a high debt level.

A more likely scenario would be if CLZ become insolvent it goes into administration by the liquidators, larger creditors are paid out first normally, shareholders will and smaller creditors get the remaining if anything left, also larger creditors may be given the option to buy CLZ.

All this may take several years at the worst, no shareholder losses can be claimed until payouts to creditors are finalised.

With insolvency administration existing shareholders will have no benefit.

If a creditor takes over the company all shareholders will be expunged from CLZ and as they say the Phoenix may rise again possibly as another entity?

Not exactly a bright future for shareholders if this scenario occurs!!!