ABN, Im not sure Tricom got their shares back at the 11th hour. I seem to remember hearing the deal was done and then reversed at the time and the ASX only cottoned on when the trade was reversed as the initial trade out of Opes was done on the quiet. Reversed by ANZ obviously on legal advice after the proverbial had hit the fan. Just something i remember at the time may need to be researched.
From The Australian April 19 http://www.theaustralian.news.com.au/story/0,25197,23562705-643,00.html
Having contributed to bringing Opes Prime to its knees, Tricom, again under the gaze of the banks and the ASX, tried to grasp a lifeboat hours before the receivers moved into Opes Prime to seize control of its assets on behalf of the banks.
In a desperate bid to get its shares back, it made 13 off-market share transactions (mainly Babcock & Brown satellites) at big price discounts to the current share price.
But it was too late. The banks took control of the assets and Tricom was forced to cancel them. Who tipped off Tricom that Opes Prime had collapsed remains a mystery
ANZ Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
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