Had a quick look and if the creditors accept the proposal then existing shareholder will be diluted to almost oblivion.
It says a 150 to 1 consolidation which it says dilutes existing shareholders to under 5mill Surely that is incorrect ?.More like 350000 for the entire registry unless l am misunderstanding.
Then 80 million shares at 0.005 and 10 mill at 1 cent. All of which existing shareholders cannot uptake unless they are sophisticates or professionals.
Ann: Reconvened Second Meeting of Creditors, page-2
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