KDY 0.00% 2.7¢ kaddy limited

>The loss making subsidiary parts were liquidatedYes, the entire...

  1. 2,637 Posts.
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    >The loss making subsidiary parts were liquidated
    Yes, the entire company has been liquidated. There is nothing left.

    > Lecca has stated they plan to merge Market back to the shell and relist.
    I don't think it is possible for them to do that legally, for one.

    Second...

    They sold it off to pay their creditors. They would have to buy it back from Lecca. For what price? $2?

    It will have been the case that the creditors were paid a fraction of what was really owed to them and so.. then the company would be in some legal trouble.
    Not to mention the issue fair work would have with them as the parent company has advised they do not have the money spare to pay out employee entitlements. If they even had $2, it would have to go to pay their employees entitlements.

    And finally..
    What BENEFIT is there to Lecca of doing that? Explain to me the benefit.
    Marketplace was sold to Lecca for half a million, and Kaddy has absolutely zero assets or ability to generate revenue now. It is a shell with $0 value and a $3m market cap.

    What happens if they attach this half million dollar company to the ASX and go live with it?

    Sorry mate. I don't know how you got the impression that Lecca intends to do that, but it makes no logical sense that it would.



 
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