I don't think its as clean a grab as you think? Pursuant to...

I don't think its as clean a grab as you think?

Pursuant to section 445A of the Act as so varied and applied to the Companies, the DOCA be
amended by:
(i) deleting clause 8.3.1;
(ii) amending clause 8.4.4 to read "Subject to clause 8.4.6, the Deed Administrators must
transfer the Alita Shares to the Proponent (or its nominee or as it directs) in accordance with
the orders of the Court"; and
(iii) inserting a new clause 8.4.6 which reads "The Deed Administrators are not required to
transfer the Alita Shares in the manner required by clause 8.4.4 if the Proponent directs the
Deed Administrators in writing not to transfer the Alita Shares"; and
(iv) amending the date in clause 7.3, from "31 March 2020 (or such other date as the Deed
Administrators and the Proponent may agree in writing)" to "30 November 2020 (or such
other date as the Deed Administrators and the Proponent may agree in writing)",

No shares are being transferred so thats why firb approval is not necessary for the doca to go ahead.
It appears that the doca has been amended thus the administrators hand over control to the newly assigned directors.
Chel is owed 47mill and alita and shareholders still owns the bald hill project.
There is still another move to be made either a recap, trade as a going concern or something more sinister as in selling the asset to a firb approved aussi company leaving an empty shell...
I can't see how liatam have full ownership?


I don't hold galaxy but well done to all long holders holding through the last few years well deserved price rises and good luck for the next few cheers