A sorry outcome but unfortunately not at all surprising to anyone reading the financial statements over the past 12 months. I don’t suspect they will be able to recapitalise this.
Yet another unfortunate example at this end of the ASX of hot talk and an acquisition enriching management at the expense of shareholders: https://hotcopper.com.au/posts/67100057/single
Remember the names, in case they pop up somewhere else.
Ann: Appointment of Voluntary Administrators to the Kaddy Group, page-6
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