It's debatable. Is it better to send in a liquidator to hack and slash at the unlisted assets to get shareholders cents on the dollar? Or do the new directors assess the situation first and try to see if there's any real value in the unlisted assets? The unlisted assets are mostly related party entities that many people suspect are grossly over valued, so it's possible that there is next to no money left in HML. But until our guys get in behind the curtain and see what's really going on we don't know what the best course of action is. Either way though, the new directors will be cooperating with the ASX and if they are able to meet the requirements set down by the ASX, then in theory there should be no reason to keep HML suspended.
However, in light of molim's post and the fact that at least two months notice needs to be given when calling an EGM, as much as I would like to see our guys take over and send the pirates packing, it does appear that HML being kicked off the ASX is the most likely outcome. Which if I'm not mistaken was what JBL had planned for HML anyway.
HML Price at posting:
$1.99 Sentiment: Sell Disclosure: Held
