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Thats the way I read it also, they need to wind the company up...

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Ozline

197 Posts.

31

05/01/24

10:46

Post #: 71738305
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Originally posted by jophda: ↑

It says the performance rights vest if a sale of Brooks OR Thorsby Assets are sold for a price exceeding $A80 million .
They are selling both Brooks AND Thorsby Assets just a little more than that .

Words matter .

On my reading of the Announcement the RIGHTS SHOULD NOT VEST !
They would have to prove that the either the Brooks or the Thorsby Assets was valued at less than $A3.3 million in the deal and the other asset was valued at more than $A80 million for their rights to vest .

They need to sell all the assets of CE1 and return ALL the cash to shareholders .

There is a huge stink about this deal .

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Thats the way I read it also, they need to wind the company up !

All that cash being withheld to keep this up and running for a well making $350,000 PA .. what a joke

Last edited by Ozline: 05/01/24

CE1 Price at posting: 10.5¢ Sentiment: None Disclosure: Held
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