Ann: Removal from Official List, page-9

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BlackCat420

3 Posts.

11/09/23

16:13

Post #: 69814038
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Originally posted by camban: ↑

You’re welcome. Not good news, I agree, but a lot could still happen here over the next year or two in addition to the above scenarios.

For example, the SO4 directors might recapitalise the company shell to focus on a new business activity, and re-list under a new name (which would probably involve a very large consolidation of existing shares e.g. 1 share for every 1000++ held, thereby diluting our existing holdings to almost no value/voting power at all. Followed by the issue via IPO of a huge number of new shares to new shareholders. If that occurs, at least we would be able to then sell our share bundles for a few dollars on-market and claim a big capital loss.

Or there could even be an early settlement in the class action lawsuit against directors & auditors that would then see a distribution of some kind to all shareholders of record on the day the company went into administration. In addition to any directors liability insurance, it’s the deep pockets of the company’s accountants & auditors that I suspect the litigator has firmly in their sights. Banton Group has a very successful track record with complex class action wins in Australia.

All of this is small comfort for us tho, but at least there are still possible avenues to claw back at least a small amount via litigation and/or to crystallize our capital losses to offset against future profits from other investments (where the directors & management aren’t irresponsible, sly, incompetent clowns).

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hey could you explain this letter to me

SO4 Price at posting: 31.0¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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