Just a question that someone might know the answer to - The problem I have had with MSV has been the shareholder loans (for Sols and Mitchells). This offer document says that the shareholder loans are now being paid in cash (slide 18) whereas as recently as the Annual report (see below) the shareholder loans were still being paid in shares (at 1.6c which I didn't like).
Does anyone know if this has changed and when this was updated to the market?
- On 6 July 2016, 31,250,000 fully paid ordinary shares were issued to Washington H Soul Pattinson & Company Limited at an issue price of $0.016 per share in lieu of interest payable for the second 12 month period in accordance with the terms of the of the shareholder loan.
- On 6 July 2016, 21,875,000 fully paid ordinary shares were issued to Mitchell Family Investments (Qld) Pty Ltd as trustee for the Mitchell Family Investments Trust at an issue price of $0.016 per share in lieu of interest payable for the second 12 month period in accordance with the terms of the of the shareholder loan.
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