EGO 0.00% 12.0¢ empire oil & gas nl

Ann: Circular to Creditors, page-17

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  1. 4,299 Posts.
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    I just do not understand what you are on about.
    Angus was in charge when the well stopped flowing and he is still in charge when it is going to flow again.
    The only thing was the board did not have enough to pay MIN when they made the demand and MIN could have waited to see if the well could have been fixed but MIN wanted EGO assets and gave the directors no time to raise funds it would have been a 50% dilution and would have been better than what we have.
    They could have said do a capital raising or we will take your assets.
    It is the SH that continued to sell the shares at a lower price
    you do not need the board permission to sell .
    Angus left EGO as it was not what he thought it was now he is back incharge of the same outfit you work it out.
 
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