WOW, things change quickly. I undertook an ASIC search at 9.57am on 21 May 2018, to confirm that directors and shareholders had not changed. I did this to make sure nothing had change before my letter to shareholders got printed. This is information that would have been critical information to include :-(
I have this evening downloaded the winding up application and the appointment of administrators.
In relation to your question about disclosure obligations, may I suggest your ring the company and speak to the Company Secretary. I've spoken with him a couple of times and have found him helpful.
Given the EGM on the 29 May, I'd hope something would be communicated to shareholders to keep all shareholders abreast of the current situation i.e. whilst the loan was written off and technically could still be repaid, having administrators appointed puts this at a much higher rate of default.
PZC Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
