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12/11/18
11:46
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Originally posted by Clever1
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Hi all
The finalisation of the sale of TCM is extremely positive. Yes, the sale price was reduced, better that, then wait X number of years for it to be finalised. Just remember, the company still has a debt to Kopex, from memory that was around US3m, so don't get to excited calculating an asset backing until the company clarifies the Kopex loan.
I suspect the Kopex Loan will need to be finalised before PZC is in a position to move forward and reinvent itself. Whether that be NEC or any other deal. As a reminder NEC is still under administration.
Conditional on any new deal, PZC will need to re-comply with Chapters 1 & 2, ultimately this requires a shareholder vote. PZC will remain suspended until such time it re-complies with Chapters 1 & 2.
PS That article is incorrect, in that PZC has been trying to sell TCM for greater than 18 months.
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NEC is no longer in administration as far as i know. DOCA entered into in September... can't see why an announcement of it and how it applies to PZC wasn't released by PZC