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Ann: Suspension from Quotation, page-9

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mike8654

694 Posts.

43

04/09/23

16:40

Post #: 69724645
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Originally posted by Colnago: ↑

Don't know but when I have seen ********* go through this same situation with delayed reports and resignations they usually fall over, raising 60 mill now defies logic there is a limit on raises above 15% of market cap unless there is shareholder approval then a meeting with a vote usually a prospectus has to be released which brings a question up ,"are the new investors investing without a half yearly report or have they information we don't have,investing blindly doesn't pass the pub test. Meanwhile some even just a few workers could leave because of the uncertainty along with some customers along with suppliers getting nervous all little things that can effect the smooth running of the company.
Odd isn't it Paul Ruiz is a governance and audit expert but resigns leaving a half yearly not presented on time

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It's hard to see who would invest in ordinary equity at 8 cents given the current state of things. More likely they would want some sort of mezzanine arrangement. Even then they have $200m of interest bearing debt ranking ahead of them in a receivership - so the terms would likely be very bad for current holders.

AMA Price at posting: 12.0¢ Sentiment: Sell Disclosure: Not Held
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