Ann: PLS: Conditional Agreement to Acq. Altura Lithium Operations, page-111

It all depends. If this is a "clean deal", in which case the PLS offer covers all liabilities ring fenced into ALO, AJM may well continue to trade - except that there is very little of value left under the AJM banner.

If it is NOT a clean deal, and there are some sort of "parent company guarantee" (for what it is worth, given the parent company AJM is essentially a shell), and the PLS deal does not over all liabilities, the receivers could go after assets tied up in AJM. In which case the whole lot may be liquidated.