You are spot on @Rick19.
Unless A40 financial situation is far worse what we were told and from past 6 months we know that anything MC was saying could not be trusted.
I had hopes of GXY making a bid as a last chance of recovering some funds in the future as GXY new shareholder.
I am shocked why they did not decided to go for SPP at times when AJM managed to get $60m.
The amount of cash on hand, stock ready for sale and SPP would be enough to cover this small debt.
We went into VA but there is still a hope of things to be worked out without all assets sale and it is very surprising that our BOD just gave up without any consideration for retail shareholders, almost like they wanted this to be that way.
Hope that covering all outgoings will not include 12 months pay for all those entitled to it as per last EGM voting.
They asked shareholders for all bonuses to be approved but don't bother asking for SPP to get at least into C&M.
A40 Price at posting:
8.2¢ Sentiment: None Disclosure: Held
