re: Ann: Notice of General Meeting and Specia...A return of capital to Shareholders with the exception of Jadefield Group Limited, China Powerplus Limited and Ms Zhang Guangxia of AUD$0.03426 per Share held.
So from the last traded price of $0.074, we will get a capital return of $0.03426 from the independant expert valuation of $17m for the full asset being sold (minority holders owning 16.41%).
Then there is Tranche 2 which says something about buying an oil recovery technology and relisting. So maybe along with the $0.03426 capital return, we'll get to keep the relisted shares with some value, probably small.
Decision to acquire a new main undertaking Given the proposed sale of China Steel Singapore to the Exiting Shareholders, the Company wishes to acquire the business and assets of Reservoir Star Energy Technology Limited (Reservoir Star) so that it may continue as a going concern albeit assuming and operating a business different in nature to that which is currently operated.
At least it's not a full write-off...
CNH Price at posting:
7.4¢ Sentiment: Buy Disclosure: Held
