it took some prtty creative beancounting to come up with $66M in creditors - apparantly it was on the basis of Glencore losing future profits from its offtake agreement - what a crock!
won't make much difference, the essence of the recap proposal is that us existing mug shareholders get diluted 1 for 50 which takes issued shares from approx 800M to 16M - this is going to be followed by the issue of 250M shares to the promotors, 20M to creditors and a few other sundry issues
essentially we will be left with 3/5ths of 5/8ths of bugger all
cheers
t
- Forums
- ASX - By Stock
- Ann: Company Secretary Appointment
it took some prtty creative beancounting to come up with $66M in...
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add MRX (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online