CCU shares go walkabout, page-4

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sotheby

413 Posts.

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24/06/14

16:00

Post #: 13565264
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Originally posted by fourdollars ↑

Sadly no. All that's happened is that shares have been transferred from CHESS to Issuer Sponsored. As usual, as a final insult to shareholders, the Administrators will milk this dead cow for many years to come. First they'll use up all the mined silver, then they'll hit large creditors for additional fees in the (false) hope that they may be able to salvage something for them, and finally they'll entertain many and varied recapitalisation "proposals". All this prevents shareholders from realising their capital losses as the company is never actually wound up.

I have one in my over-stuffed bottom drawer that went into Admin in 1997.

My mother had one from 1973 - received the final letter from Administrators (Administrators' children? grandchildren??) earlier this year.

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Gee, thank Fourdollars.

Well, I'm going to claim a loss regardless. If the ATO 'ping' me, I will plead ignorance. They'lI normally just disallow the claim as a "first offence" - I really wouldn't expect to see massive fines coming my way. I think all of our holdings are as good as dead, especially now that Graysonline is sniffing around the carcass. Grays will whack up what remaining usable plant and equipment there is for auction. Goodbye CCU . . . . . .

CCU Price at posting: 5.8¢ Sentiment: None Disclosure: Held
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CCU shares go walkabout, page-4

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