EG must know that OLI is desperately short of cash. Even their own 4C which was lodged at the end of last week indicated that they will run out of cash in the middle of this month so continuing as a going concern isn't really an option. The new CEO doesn't start until 17th June by which time the entity might have run out of cash anyway without significant external support from somewhere.
So I think you're right, all these changes look to me like putting a brave face on a very difficult situation, perhaps as an attempt to put their best foot forward with EG.
Ann: EG Scheme Update, Board Restructure, Appointment of New CEO, page-5
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Last
0.9¢ |
Change
-0.002(18.2%) |
Mkt cap ! $3.966M | |||
| Open | High | Low | Value | Volume |
| 1.0¢ | 1.0¢ | 0.9¢ | $7.232K | 792.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 185467 | 0.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.0¢ | 100000 | 1 |
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| Last trade - 14.15pm 15/11/2024 (20 minute delay) ? |
| OLI (ASX) Chart |