As I recall, a completely different RCF fund to Fund 7 (which is invested here) was set up specifically to intervene at a very troubled Australian mining sevices (??) company.
It offered a price which was accepted by all the shareholders, then developed it, and sold the company a few years later.
I looked at that a couple of years back on the TMT forum and saw plenty of differences between the two funds, but don’t have time to revisit the finer details right now …. Especially just on the basis of extremely vague comments Hawk.
But one thing does seem to go against any rumours of RCF buyimg the company;
That’s the fact that it only owns 18% and there’s a large and solid base of long term investors here (more than 30% on top of RCF’s 18%) who gave stuck it out for painful years.
Why would they agree to leave just on the cusp of AVL finally getting government support to actualise its’ potential?
cheers
AVL Price at posting:
1.3¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)