No coincidence that this occurs and Aurora Funds release that announcement about AZZ notes.
There is obviously some material information that has come to light that caused:
1. AZZEF to trade to a low of 3.5c (from 12.5c)
2. Aurora Fortitude Absolute Return Fund to release the letter to unit holders suspending applications and redemption of units in the fund.
What is this material information and once again why the has it not been disclosed to shareholders?
1. Has an administrator already been appointed?
2. What is the status of the 'negotiations'
3. Is any recourse being pursued against the private equity party given there was an executed S&P?
4. What value do AZZ believe it's assets are now worth?
5. Why has AZZ not been actively negotiating with other parties, knowing that they had $23M payment due and the private equity party was extending?
6. Why was an administrator not appointed at the start of this quarter when it was already apparent that AZZ was having liquidity concerns?
7. How much have the Director's been paid in salary and wages over this period?
AZZ Price at posting:
50.0¢ Sentiment: None Disclosure: Held
