Scouring the KPMG website i came across the below details.At the...

Scouring the KPMG website i came across the below details.

At the Reconvened Second Meeting of Creditors held on 16 February 2024, creditors of KLL passed a
resolution to accept a Deed of Company Arrangement (DOCA) as proposed by Alt Finance Pty Ltd (a
100% owned subsidiary of Benelong Capital Partners Pty Ltd) (Alt Finance). The DOCA is due to be
executed on or before 8 March 2024 and we will provide creditors with a further update at that time.

https://assets.kpmg.com/content/dam/kpmg/au/pdf/creditors/kalium-lakes/kalium-lakes-circular-to-creditors-19-february-2024.pdf

If I'm understanding the proposal, existing shareholder will be left with 5% of the value of the "new entity".

https://assets.kpmg.com/content/dam/kpmg/au/pdf/creditors/kalium-lakes/kalium-lakes-supplementary-voluntary-administrators-report-8-february-2024.pdf