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4.5¢ atlas iron limited

Ann: Ceasing to be a substantial holder from FMG, page-21

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28/09/18

18:47

Post #: 35919125
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Originally posted by Nimba ↑

Being saying this for weeks and weeks...........but hey down rampers know jack sh$t apparently.
Its been fun and good luck to all in your future endeavours.

Fortescue’s decision to fold followed news that Atlas lenders had agreed to waive an event of default over their $86.4 million loan triggered by Hancock securing more than 50 per cent of the company.
The lenders instead agreed to a 60-day put option beginning Wednesday, October 3, by which they could demand that Hancock buy the debt.
The ASX and Atlas board agreed than any purchase of the debt by Hancock would not require shareholder approval.
If effected, the transaction would give Mrs Rinehart and iron-like grip on Atlas by owning a majority of the the company and the entirety of its debt.
In the event that Atlas collapsed, Hancock as a secured creditor would be first in line for its assets.

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DYOR:
But had we listened to “palliative care” from the beginning, we all would have accepted 3.1cps.

AGO Price at posting: 4.3¢ Sentiment: Buy Disclosure: Held
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