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0.9¢ calima energy limited

Got a reply from calima saying yesterday's announcement stated...

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chark

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27

06/01/24

09:27

Post #: 71753237
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Originally posted by trousergecko: ↑

Basically... I am very unhappy setting up a retirement home for management with ~$17M in cash and a producing asset, this seems way too generous for a mob that hasn't been very honest with shareholders all the way along this ride. They can take $2M in severance pay to be split, and a handshake FOR WORKING for US.

I would much rather prefer 13.5c from sale + about 2c for the rest... 15.5c.

Best possible outcome is a rival bid, before shareholder vote (30% chance), take the whole lot for above 15.5c.

Montney was literally a real kick in the teeth, was heavily oversold for many years by this management, the golden pot at the end of the rainbow. I won't ever forget this. Sold in the end for next to nothing, along with basic infra-structure and 2 well sites. That was a shocker of a deal, given the expectations set up by management.

The 0.4c of capital return is due.

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Got a reply from calima saying yesterday's announcement stated the 0.4c return is delayed and consolidated into the post sale return of capital once an ATO ruling has been made.

CE1 Price at posting: 10.0¢ Sentiment: None Disclosure: Held
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