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9.7¢ redflow limited

Ann: Redflow enters Voluntary Administration, page-33

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gilesy71

407 Posts.

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23/08/24

15:25

Post #: 75345501
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Originally posted by TerribleTadpole: ↑

Keep in mind that Deloitte have been appointed as administrators, not receivers. That means they are required to act in the best interests of the company, and therefore of the shareholders. They will crawl all over this business looking for things to fix. If administration costs are too high, they'll cut them. If the wrong people are on the board they will call a general meeting to appoint new directors. If the wrong people are in management positions they will replace them. And if they decide the business is irretrievable, they will call a general meeting to approve a plan to wind the company up and return as much capital as possible to the shareholders.

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I hope you are right @TerribleTadpole. I don't have the same sort of faith in the big consultancy firms as you, but I will be happy if I am wrong.

RFX Price at posting: 9.7¢ Sentiment: None Disclosure: Held
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