Ann: Appointment of receivers and managers, page-80

First 80 Last

Share
Profile

Follow
Henry Walton

1,398 Posts.

2016

31/08/19

10:26

Post #: 40258330
Share

Originally posted by Names little ↑

Hi Henry, that's the problem, nobody knows who to believe. This from the A40 appointment of Administrator announcement

"The Company has been negotiating the terms of a potentially viable restructure proposal from a consortium of unsecured creditors, existing shareholders and new investors (Consortium), in conjunction with its new secured lender. The Company sought, but was unable to secure, standstill commitments for the period it was seeking. "

So A40 saying they couldn't get GXY to give standstill for "period it was seeking" but GXY saying they were willing to give a week. Both could be true, perhaps A40 felt they needed more than a week, but that begs the question why they didn't take the week and then see if GXY willing to extend further once they had more information.

Anyway, obviously Corporate games going on, unfortunately it's us little guys that usually get burnt in the process. But that's just in my very humble opinion.

All the best

Expand

If GXY wanted to give them a week they would have given them a week, it wasn't something that they needed to try to do they would have done it.

The guy was talking about a carve up as soon as they bought the debt, he spelt out his intentions very clearly.

You might think it's unclear, I suggest you read his comments about the carve up it's pretty clear.

A40 Price at posting: 8.2¢ Sentiment: Buy Disclosure: Held
5 Upvote

0 Great analysis

Reply

Top Stories

I88

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

AUG

Augustus sees imperial share rise on high-grade Cu and gold results at Ti-Tree

TX3

Canadian fieldwork yields multiple pegmatites for Trinex

RNU

Renascor wins a funding boost given it wants to produce a critical mineral – but $5M award pales in comparison to some

TLX

Telix jumps 11.6% as US government indicates proposed medicare changes won't affect prostate cancer drug

There are more pages in this discussion • 307 more messages in this thread...

First 80 Last

Add A40 (ASX) to my watchlist

Ann: Appointment of receivers and managers, page-80

Top Stories

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

Augustus sees imperial share rise on high-grade Cu and gold results at Ti-Tree

Canadian fieldwork yields multiple pegmatites for Trinex

Renascor wins a funding boost given it wants to produce a critical mineral – but $5M award pales in comparison to some

Telix jumps 11.6% as US government indicates proposed medicare changes won't affect prostate cancer drug

Featured News