5GN

0.00%

15.0¢ 5g networks limited.

Ann: Sale of 5GN Business and Capital Return, page-60

First 60 Last

Share
Profile

Follow
Bullrush007

5,644 Posts.

666

02/07/24

11:00

Post #: 74562918
Share

Originally posted by MistaDobalina: ↑

I think while we're in agreement you've misunderstood what I've said.

1) Joe will form a new company - offshore to to probably get around any subsequent ASIC probity issues. Let's call it "NewCo"
2) The board will support the sale and for $500K Joe's new company will acquire all assets, plus get some 'working capital' - which I'll take a bet is more than the cash price he's paying, plus there's some litigation liabilities that are now in some random foreign jurisdiction - it's an easy bet that its likely in Singapore.
3) 5GN then rolls up and shareholders get the residual crumbs.
4) NewCo immediately flips it's network operations and the security business (which lets remember they bought for $4M less than 12 months ago) either individually or as a parcel. They've already sorted the foreign investment stuff so it'll be an easy and reasonably frictionless transaction.
5) NewCo a private company now has cash from the sale - let's make an assumption they want to do a quick deal so it's a cash price discount but it would be easy to see a fire valuation of say $200M, plus some small liabilities/litigation.
6) The "board" of NewCo now resolve to distribute all free cash to shareholders, leaving only the liability/litigation and an otherwise empty shell.
7) The "board of NewCo now resolve to wind the company up.

Joe and the inner circle profit massively. Everyone else bends over. Because it's all happened out in some other jurisdiction Joe is safe from any future ASIC review.

Like I said previously my belief is the dominoes have already been lined up and there is already a buyer waiting for the unencumbered assets for the quick flip to occur.

@completelybroke is correct. Unless there is a competing offer or the independent expert does their job it's effectively a fait accompli and they'll get away with it.

Expand

why a Special Meeting needs to be called to remove the Chairman immediately

or make a claim against professional indemnity insurances

or least effective - a class action

5GN Price at posting: 15.0¢ Sentiment: None Disclosure: Held
3 Upvote

0 Great analysis

Reply

Top Stories

ASX hits all time high out the gate on Friday trades following bullish US inflation data

AII

Almonty locks in govt agreement for tungsten oxide plant in South Korea

MDI

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

BHP

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

Bitcoin investors need to know the risks

NIM

Nimy to raise $1.21M to explore 'newsy' WA targets

IMM

Immutep reports strong response rate from immunotherapies treating carcinomas

SKS

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

I88

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

There are more pages in this discussion • 12 more messages in this thread...

First 60 Last

Add 5GN (ASX) to my watchlist

(20min delay)
Last 15.0¢		Change 0.000(0.00%)		Mkt cap ! $46.96M

Open	High	Low	Value	Volume
15.0¢	15.3¢	15.0¢	$86.66K	577.7K

Buyers (Bids)

No.	Vol.	Price($)
11	4670865	15.0¢

Sellers (Offers)

Price($)	Vol.	No.
15.5¢	1548308	24

View Market Depth

No.	Vol.	Price($)
11	4670865	0.150
5	1830344	0.145
4	164180	0.140
4	32228	0.135
2	15398	0.130

Price($)	Vol.	No.
0.155	1463308	23
0.160	698265	14
0.165	245845	6
0.170	504284	5
0.175	52258	3

Last trade - 16.10pm 12/07/2024 (20 minute delay)

5GN (ASX) Chart

Ann: Sale of 5GN Business and Capital Return, page-60

ASX hits all time high out the gate on Friday trades following bullish US inflation data

Almonty locks in govt agreement for tungsten oxide plant in South Korea

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

Bitcoin investors need to know the risks

Nimy to raise $1.21M to explore 'newsy' WA targets

Immutep reports strong response rate from immunotherapies treating carcinomas

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: Sale of 5GN Business and Capital Return, page-60

Top Stories

ASX hits all time high out the gate on Friday trades following bullish US inflation data

Almonty locks in govt agreement for tungsten oxide plant in South Korea

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

Bitcoin investors need to know the risks

Nimy to raise $1.21M to explore 'newsy' WA targets

Immutep reports strong response rate from immunotherapies treating carcinomas

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News