They didn’t really buy the project back. They offered creditors a settlement, using the majority in numbers (ie employees who get paid in full) and majority in value by getting the landlord to claim 30 years of rent, and thereby defeat Canstruct claim to the lesser amount. The directors also nullified any investigation into insolvent trading etc. So as the creditors have been settled they get the company back.
They didn’t really buy the project back. They offered creditors...
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Last
0.3¢ |
Change
-0.001(14.3%) |
Mkt cap ! $14.51M | |||
| Open | High | Low | Value | Volume |
| 0.4¢ | 0.4¢ | 0.3¢ | $6.196K | 1.906M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 37 | 25980109 | 0.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 1327840 | 5 |
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| Last trade - 16.10pm 08/05/2024 (20 minute delay) ? |
| SFG (ASX) Chart |